The influence of professional investors on the failure of management buyout attempts
Article Abstract:
Professional investors act as deterrent for management buyout (MBO) attempts wherein the management has an inherent interest contrary to those of the shareholders. Acquiring blocks of shares during MBO attempts, either for themselves or for other bidders, professional investors prevent share devaluation and consequently prevent management from acquiring control at a price cheaper than other bids. Professional investors, therefore, increase share value by facilitating takeover control by higher bidders.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 1996
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The structure of debt and active equity investors: The case of the buyout specialist
Article Abstract:
When leveraged buyout specialists have more control in structuring the debt used to finance the purchase and in monitoring the firm thereafter, they are likely to use short-term and/or senior debt for the buyout and are less likely to experience financial distress.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2001
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The dynamics of international equity market expectations
Article Abstract:
The flow of international equity in to the markets of a country with good returns and a model to explain the information advantage that domestic investor have over the foreign investor is developed.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2005
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