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Managerial Share Ownership and the Stock Price Effects of Antitakeover Amendment Proposals

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Author Info
 McWilliams, Victoria B
Abstract

Studies that test for an average stock price effect of antitakeover amendments present different results, disagreeing with respect to both the significance and the direction of the effect. This study determines whether effects can be identified when managerial share ownership and amendment type are considered. Results suggest a negative relation between managerial share ownership and the stock price reaction to all but fair price amendment proposals. Copyright 1990 by American Finance Association.

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File URL: http://links.jstor.org/sici?sici=0022-1082%28199012%2945%3A5%3C1627%3AMSOATS%3E2.0.CO%3B2-1&origin=repec
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Publisher Info
Article provided by American Finance Association in its journal Journal of Finance.

Volume (Year): 45 (1990)
Issue (Month): 5 (December)
Pages: 1627-40
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Handle: RePEc:bla:jfinan:v:45:y:1990:i:5:p:1627-40

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  1. James M. Mahoney & Chamu Sundaramurthy & Joseph T. Mahoney, 1996. "The effects of corporate antitakeover provisions on long-term investment: empirical evidence," Research Paper 9618, Federal Reserve Bank of New York. [Downloadable!]
  2. Maug, Ernst & Rydqvist, Kristian, 2004. "Do Shareholders vote Strategically? Evidence on the Advisory Role of Annual General Meetings," CEPR Discussion Papers 4192, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  3. Molin, Johan, 1996. "Optimal deterrence and inducement of takeovers: An analysis of poison pills and dilution," Working Paper Series in Economics and Finance 102, Stockholm School of Economics. [Downloadable!]
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This page was last updated on 2008-11-26.

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