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Managerial shareholdings, firm value, and acquired corporations

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  • Halpern, Paul
  • Kieschnick, Robert
  • Rotenberg, Wendy

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  • Halpern, Paul & Kieschnick, Robert & Rotenberg, Wendy, 2005. "Managerial shareholdings, firm value, and acquired corporations," The Quarterly Review of Economics and Finance, Elsevier, vol. 45(4-5), pages 781-795, September.
  • Handle: RePEc:eee:quaeco:v:45:y:2005:i:4-5:p:781-795
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    References listed on IDEAS

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    1. Elitzur, Ramy & Halpern, Paul & Kieschnick, Robert & Rotenberg, Wendy, 1998. "Managerial incentives and the structure of management buyouts," Journal of Economic Behavior & Organization, Elsevier, vol. 36(3), pages 347-367, August.
    2. Comment, Robert & Schwert, G. William, 1995. "Poison or placebo? Evidence on the deterrence and wealth effects of modern antitakeover measures," Journal of Financial Economics, Elsevier, vol. 39(1), pages 3-43, September.
    3. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
    4. Trimbath, Susanne & Frydman, Halina & Frydman, Roman, 2001. "Cost Inefficiency, Size of Firms and Takeovers," Review of Quantitative Finance and Accounting, Springer, vol. 17(4), pages 397-420, December.
    5. Stulz, ReneM., 1988. "Managerial control of voting rights : Financing policies and the market for corporate control," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 25-54, January.
    6. Anderson, Ronald C. & Lee, D. Scott, 1997. "Ownership Studies: The Data Source Does Matter," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 32(03), pages 311-329, September.
    7. Himmelberg, Charles P. & Hubbard, R. Glenn & Palia, Darius, 1999. "Understanding the determinants of managerial ownership and the link between ownership and performance," Journal of Financial Economics, Elsevier, vol. 53(3), pages 353-384, September.
    8. Cho, Myeong-Hyeon, 1998. "Ownership structure, investment, and the corporate value: an empirical analysis," Journal of Financial Economics, Elsevier, vol. 47(1), pages 103-121, January.
    9. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation : An empirical analysis," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 293-315, January.
    10. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation," Scholarly Articles 29407535, Harvard University Department of Economics.
    11. Aloke Ghosh & William Ruland, 1998. "Managerial Ownership, the Method of Payment for Acquisitions, and Executive Job Retention," Journal of Finance, American Finance Association, vol. 53(2), pages 785-798, April.
    12. Clarke, Richard N, 1989. "SICs as Delineators of Economic Markets," The Journal of Business, University of Chicago Press, vol. 62(1), pages 17-31, January.
    13. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    14. Steven N. Kaplan & Jeremy C. Stein, 1993. "The Evolution of Buyout Pricing and Financial Structure in the 1980s," The Quarterly Journal of Economics, Oxford University Press, vol. 108(2), pages 313-357.
    15. G. William Schwert, 2000. "Hostility in Takeovers: In the Eyes of the Beholder?," Journal of Finance, American Finance Association, vol. 55(6), pages 2599-2640, December.
    16. Demsetz, Harold, 1983. "The Structure of Ownership and the Theory of the Firm," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 375-390, June.
    17. McConnell, John J. & Servaes, Henri, 1990. "Additional evidence on equity ownership and corporate value," Journal of Financial Economics, Elsevier, vol. 27(2), pages 595-612, October.
    18. Randall Morck & Andrei Shleifer & Robert W. Vishny, 1988. "Characteristics of Targets of Hostile and Friendly Takeovers," NBER Chapters,in: Corporate Takeovers: Causes and Consequences, pages 101-136 National Bureau of Economic Research, Inc.
    19. Steven N. Kaplan & Jeremy C. Stein, 1993. "THE EVOLUTION OF BUYOUT PRICING AND FINANCIAL STRUCTURE (OR, WHAT WENT WRONG) IN THE 1980s," Journal of Applied Corporate Finance, Morgan Stanley, vol. 6(1), pages 72-88.
    20. Barnhart, Scott W & Rosenstein, Stuart, 1998. "Board Composition, Managerial Ownership, and Firm Performance: An Empirical Analysis," The Financial Review, Eastern Finance Association, vol. 33(4), pages 1-16, November.
    21. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-1177, December.
    22. Linn, Scott C. & Switzer, Jeannette A., 2001. "Are cash acquisitions associated with better postcombination operating performance than stock acquisitions?," Journal of Banking & Finance, Elsevier, vol. 25(6), pages 1113-1138, June.
    23. Ambrose, Brent W. & Megginson, William L., 1992. "The Role of Asset Structure, Ownership Structure, and Takeover Defenses in Determining Acquisition Likelihood," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 27(04), pages 575-589, December.
    24. Mikkelson, Wayne H. & Partch, M. Megan, 1989. "Managers' voting rights and corporate control," Journal of Financial Economics, Elsevier, vol. 25(2), pages 263-290, December.
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    Cited by:

    1. Sharma, Vaibhav & Hsieh, Chialing, 2011. "Managerial horizons in stock financed mergers," The Quarterly Review of Economics and Finance, Elsevier, vol. 51(2), pages 152-161, May.

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