Corporate Governance and takeovers: Insights from past research and suggestions for future research

Eduardo Costa, Ana Marques

Research output: Contribution to journalArticle

Abstract

This paper reviews the literature on the association between corporate governance and takeovers. It approaches takeovers as an effective external corporate governance mechanism. The main conclusions to be drawn is that although the mere threat of an active market for corporate control may be positively correlated with good internal governance, takeovers will always take place independently of good internal corporate governance by targets and that managerial ownership is crucial for a favorable shareholder outcome in a takeover event. We believe future research on corporate boards, cross-national takeovers and managers of bidding firms would be of great interest.
Original languageEnglish
Pages (from-to)211-218
JournalCorporate Ownership & Control
Volume6
Issue number3
DOIs
Publication statusPublished - 1 Jan 2009

Keywords

  • Takeovers
  • Corporate Governance
  • Mergers and Acquisitions

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