Takeovers in the '60s and the '80s: Evidence and implications

Takeovers in the '60s and the '80s: Evidence and implications

This paper reviews the evidence on takeover waves of the 1960s and 1980s, and discusses the implications of this evidence for corporate strategy, agency theory, capital market efficiency, and antitrust policy. We conclude that antitrust policy played an important role in the two takeover waves, and...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Strategic management journal 1991, Vol.12 (S2), p.51-59
Hauptverfasser: Shleifer, Andrei, Vishny, Robert W.
Format: Artikel
Sprache:eng
Schlagworte:
Agency theory
Antitrust
Antitrust policy
Business conglomerates
Business structures
Diversification
efficient markets
Financial management
Hostile takeovers
Portfolio diversification
Product diversification
Shareholders
Stock markets
Takeovers
Trends
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:This paper reviews the evidence on takeover waves of the 1960s and 1980s, and discusses the implications of this evidence for corporate strategy, agency theory, capital market efficiency, and antitrust policy. We conclude that antitrust policy played an important role in the two takeover waves, and that the wave of the '60s presents a problem for efficient capital markets.
ISSN:0143-2095
1097-0266
DOI:10.1002/smj.4250121005