Dealing with the Unexpected: The Board of Directors and Takeovers

Neville Bain and David Band

Chapter 5 in Winning Ways through Corporate Governance, 1996, pp 93-107 from Palgrave Macmillan

Abstract: Abstract Ever since Berle and Means, in their famous work The Modern Corporation and Private Property (1934), documented the problems relating to the separation of ownership and control in business, corporate governance practitioners and students have been concerned with the issue of managerialism. Berle and Means suggested that the diffusion of share ownership was one of the main reasons for the increasing influence of managerialism. As shareholders are diffused, they argued, the likelihood of co-ordinated action by shareholders declines.

Keywords: Corporate Governance; Institutional Investor; Share Price; Corporate Control; Target Firm (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14158-6_5

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DOI: 10.1007/978-1-349-14158-6_5

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