Knights, Raiders, and Targets: The Impact of the Hostile by John C. Coffee, Louis Lowenstein, Susan Rose-Ackerman

By John C. Coffee, Louis Lowenstein, Susan Rose-Ackerman

Interesting because the company takeovers of contemporary years have been--with their "golden parachutes" and junk bonds, "greenmailers" and white knights--it is much from transparent what underlying forces are at paintings, and what their long term outcomes might be. Debate over those questions has turn into polarized: a few see takeover threats as disciplinary mechanisms that result in managers to act successfully and circulation resources to better valued makes use of or into the fingers of extra effective managers; others declare that company raiders have produced few observable raises in working potency, yet particularly have disrupted company making plans, enforced a preoccupation with the momentary, and tilted the stability sheets of company the US in the direction of dangerously excessive debt degrees. Such sharp conflicts in thought and proof have produced massive governmental confusion about the acceptable coverage reaction. rankings of accounts were brought in Congress, yet legislators aren't any extra in contract than scholars.
Knights, Raiders, and Targets represents one of many first sustained efforts to refine and make clear those matters. in accordance with papers provided at a symposium subsidized by means of the Columbia legislations School's middle for legislations and financial stories, it is also dialogue of the casual shows made on the symposium by means of the CEOs of numerous significant agencies. this significant ebook airs new theories and provides very important and fascinating dialogue of the basic concerns connected to an occasion that has develop into critical to American company culture.

Show description

Read or Download Knights, Raiders, and Targets: The Impact of the Hostile Takeover PDF

Similar industries books

Learning on Display: Student-created Museums That Build Understanding

The tale of the civil rights circulate. The features of jap paintings and tradition. the significance of innovation. The historical past of your group. irrespective of the topic region or the grade point, a college museum venture can enhance studying and instructing. in contrast to technology festivals or paintings exhibits, which spotlight the paintings of people, institution museums are collaborative, multifaceted tasks that construct knowing.

Handbook of Concierge Medical Practice Design

In concierge drugs, physicians advance amenities-rich club courses and acquire a per 30 days or annual club price to pay for the facilities as well as the scientific companies rendered. guide of Concierge scientific perform layout examines the numerous issues physicians needs to make sooner than transitioning their practices into concierge prone.

Reimagining (Bio)Medicalization, Pharmaceuticals and Genetics: Old Critiques and New Engagements

Lately medicalization, the method of creating anything scientific, has received huge flooring and a place in daily discourse. during this multidisciplinary number of unique essays, the authors expertly ponder how matters round medicalization have built, ways that it's altering, and the aptitude shapes it's going to take up the long run.

Extra info for Knights, Raiders, and Targets: The Impact of the Hostile Takeover

Example text

The SEC study has no controls for interindustry differences in R&D, and until you have such controls, you've got nothing in the way of analysis. L. Lowenstein: In closing the evening's proceedings, let me thank our three distinguished panelists and other guests for contributing to an unusually well focused and yet spontaneous discussion. It augurs well for the remainder of the conference at which the various papers will be delivered and then subjected to comment and criticism. Given such a beginning, the proceeding should be lively and well informed.

But although this might appear to be a commonsense approach to some, good theory is neither mere fact nor just common sense. It has to have a structure which goes beyond the previous theory. Parsimony is often a desirable feature of a theory; Occam's razor applies. If you do not need an assumption, do not use it. Theorists in general and economic theorists in particular are cognizant of Occam's razor. But there is an extra reason for the use of simplifying assumptions. There is often a trade-off between the complexity of a model and the ability to carry out a formal analysis.

And overwhelmingly, that is not the focus of Wall Street, and I don't think it's likely to be, so I think we ought to deal with the world as it is. Exactly how we deal with that to prevent what I would call revolving-door capitalism, I'm not sure. W. Buffett: Yeah. If I didn't own any Berkshire and I saw somebody out there scribbling away and taking down Drexel's number or whatever it might be, my first call tomorrow would not be to our candymaker F. M. Scherer: Mike Jensen's comment deserves an answer.

Download PDF sample

Rated 4.45 of 5 – based on 13 votes