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The Performance of White Knight Management


  • Carolyn Carroll
  • John M. Griffith
  • Patricia M. Rudolph


This paper finds that, on average, white-knight managers have previously made bad investment decisions and their value-decreasing bids are thus part of a pattern of bad investment decisions, but that there is almost no tendency for shareholders to replace these inefficient managers.

Suggested Citation

  • Carolyn Carroll & John M. Griffith & Patricia M. Rudolph, 1998. "The Performance of White Knight Management," Financial Management, Financial Management Association, vol. 27(2), Summer.
  • Handle: RePEc:fma:fmanag:carroll98

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    Cited by:

    1. Svetlana Grigorieva & Georgii Gorbatov, 2015. "Puzzle of Corporate Diversification Efficiency in Bric Countries," HSE Working papers WP BRP 47/FE/2015, National Research University Higher School of Economics.

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