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The market for corporate control
Introduction:
The market for corporate control is here defined
as equity transactions that are large enough to change the control of the
company.
This
market is of
major importance in corporate governance because it determines the incentives of
managers and thereby
the economic efficiency of the companies they manage.
Two
classic references on the market for corporate control are Manne [1965] or
Marris [1964].
Contents
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Table -
Hypotheses:
Effects
of market for corporate control on corporate performance and other other
kinds of institutions of relevance for corporate governance.
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Table - International corporate governance: Tentative
characterization of legal and empirical state of large firm markets for corporate control as of 1980-95: 1) Developing countries. 2) Germany. 3)
Japan. 4) Anglo-American countries. 5) Denmark.
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