THE IMPACT OF TAKEOVERS, LEVERAGED BUY-OUTS AND VENTURE CAPITAL ON CORPORATE GOVERNANCE

Andrei Stanculescu

Theoretical and Applied Economics, 2008, vol. 11(528)(supplement), issue 11(528)(supplement), 364-369

Abstract: In this paper you will find described the impact of takeovers, buy-outs and venture capital on corporate governance mechanisms. Corporate takeovers represent an important external governance mechanism, by means of which shareholders can replace underperforming or opportunistic managers. Also, many studies show that shareholders of takeout firms earn greater returns. Moreover, a buy-out can be considered a means of restoring active governance and settling many internal control issues. In particular, the management buy-outs (MBOs) induce a series of important consequences, such as capital restructuring in favor of the inside management.

Keywords: corporate governance; shareholder; takeover; buy-out; venture capital. (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:11(528)(supplement):y:2008:i:11(528)(supplement):p:364-369

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