Target governance provisions and acquisition types
Abstract
We examine the role of target firms’ governance characteristics in determining their survival status and acquirer type. We find that conditional on being a takeover target, firms with a powerful board, those that are insider dominated and immune from shareholder oversight, are more likely to undergo a private equity backed buyout compared to acquisition by public firms or a non-private equity backed buyout. We document a positive (negative)...
Paper Details
Title
Target governance provisions and acquisition types
Published Date
Mar 1, 2020
Journal
Volume
110
Pages
160 - 172
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