Takeovers

Their Causes and Consequences

Dados Bibliográficos

ID4029370
AutoresMichael C Jensen (0000-0001-9084-1361, Professor of Business Administration, Harvard Business School, Cambridge, Massachusetts, and LaClare Professor of Finance and Business Administration and Director of the Managerial Economics Research Center, William E. Simon Graduate School of Business Administration, University of Rochester, Rochester, New York., autor correspondente)
Ano1988
Volume2
Fascículo1
Páginas21-48
Data de publicação1988-02-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoThe Journal of Economic Perspectives (JOURNAL)
Identificadores do periódicoISSN: 0895-3309 • E-ISSN: 1944-7965
EditoraAmerican Economic Association (PUBLISHER • US)
DOI10.1257/jep.2.1.21
OpenAlexW3125304111
IdiomaEN
Citações recebidas46
Referências citadas17

Economists have accumulated considerable evidence and knowledge on the effects of the takeover market. Here, I focus on current aspects of the controversy. My assessment is that the market for corporate control is creating large benefits for shareholders and for the economy as a whole by loosening control over vast amounts of resources and enabling them to move more quickly to their highest-valued use. This is a healthy market in operation, on both the takeover side and the divestiture side, and it is playing an important role in helping the American economy adjust to major changes in competition and regulation of the past decade

Business · Corporate governance · Divestment · Economics · Industrial organization · Management · Market economy · Market for corporate control · Shareholder · Banking stability, regulation, efficiency · Corporate Finance and Governance · Private Equity and Venture Capital · Finance