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求JFE论文:One share-one vote and the market for corporate control [推广有奖]

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楼主
xuguangwei333 发表于 2010-1-26 10:11:52 |AI写论文
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One share-one vote and the market for corporate control

This article is not included in your organization's subscription. However, you may be able to access this article under your organization's agreement with Elsevier.



Sanford J. Grossmana and Oliver D. Hartb

aPrinceton University, Princeton, NJ 08544, USA
bMassachusetts Institute of Technology, Cambridge, MA 02139, USA



Available online 1 April 2002.


AbstractThis paper analyzes the optimality of the one share-one vote rule. We focus on takeover bids as a mechanism for allocating control. We assume two types of control benefits — benefits to security holders and private benefits to the controlling party. One share-one vote maximizes the importance of benefits to securityholders relative to benefits to the controlling party and hence encourages the selection of an efficient management team. However, one share-one vote does not always maximize the reward to securityholders in a corporate control contest. Sufficient conditions are given for one share-one vote to be optimal overall. The paper also includes a discussion of the empirical evidence.



























Both authors gratefully acknowledge research support from the National Science Foundation. The second author is also pleased to acknowledge financial support from the Guggenheim Foundation and the Center for Energy Policy Research at MIT. We also thank Harry DeAngelo, Douglas Diamond, Leo Herzel, Richard Ruback, and Michael Jensen (the editor) for their helpful comments on an earlier draft.
Journal of Financial Economics
Volume 20, January-March 1988, Pages 175-202
The Distribution of Power Among Corporate Managers, Shareholders, and Directors

关键词:Corporate control Contro market marke Corporate market control JFE Vote
在学术的门口徘徊

沙发
fireflower1001 发表于 2010-1-26 10:15:59

藤椅
laoaniu 发表于 2010-1-26 10:18:44
找到了,楼主看下,是否是你要的
“富裕就是三套房”是俺对“小康就是两套房”理论的创新

板凳
xuguangwei333 发表于 2010-1-26 10:26:17
It is not working paper. 2# fireflower1001
在学术的门口徘徊

报纸
xuguangwei333 发表于 2010-1-26 10:27:27
It is not working paper.[ 3# laoaniu
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地板
xuguangwei333 发表于 2010-1-26 10:28:04
帅哥美女,不是working paper
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7
fireflower1001 发表于 2010-1-26 10:34:43
那就帮不了你了,只能找到这个阿

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