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Changes in governance, the market for corporate control, and the mechanisms for hostile takeovers in Continental Europe: The case of Arcelor?s takeover by Mittal Steel

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  • Ronald Jean Degen

    () (International School of Management Paris)

Abstract

This paper describes the changes in governance, the market for corporate control, and the mechanism for hostile takeovers that have occurred in the last decade in Continental Europe, using the hostile takeover of Arcelor by Mittal Steel to illustrate these changes.

Suggested Citation

  • Ronald Jean Degen, 2012. "Changes in governance, the market for corporate control, and the mechanisms for hostile takeovers in Continental Europe: The case of Arcelor?s takeover by Mittal Steel," Working Papers 87, globADVANTAGE, Polytechnic Institute of Leiria.
  • Handle: RePEc:pil:wpaper:87
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    File URL: http://globadvantage.ipleiria.pt/files/2012/02/working_paper-87_globadvantage.pdf
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    References listed on IDEAS

    as
    1. Andriy Bodnaruk & Massimo Massa & Andrei Simonov, 2009. "Investment Banks as Insiders and the Market for Corporate Control," Review of Financial Studies, Society for Financial Studies, vol. 22(12), pages 4989-5026, December.
    2. Umber, Marc P. & Grote, Michael H. & Frey, Rainer, 2010. "Europe integrates less than you think: Evidence from the market for corporate control in Europe and the US," Frankfurt School - Working Paper Series 150, Frankfurt School of Finance and Management.
    3. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    4. Andrey Golubov & Dimitris Petmezas & Nickolaos G. Travlos, 2012. "When It Pays to Pay Your Investment Banker: New Evidence on the Role of Financial Advisors in M&As," Journal of Finance, American Finance Association, vol. 67(1), pages 271-312, February.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    governance; market for corporate control; hostile takeovers; Arcelor takeover;

    JEL classification:

    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration

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