Hostile takeovers and methods of defense: A stakeholder analysis
During the last decade, there has been a wave of mergers and hostile takeovers throughout the corporate world. This wave has been accompanied by various defensive strategies of managers to defend target firms from these takeovers. These include: greenmail, golden parachutes, and leveraged management...
| Main Author: | |
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| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
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| Interlibrary Loan: | Interlibrary Loan for the Fachinformationsdienste (Specialized Information Services in Germany) |
| Published: |
1992
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| In: |
Journal of business ethics
Year: 1992, Volume: 11, Issue: 12, Pages: 895-913 |
| Further subjects: | B
Target Firm
B Defensive Strategy B Stake B Defend B Economic Growth |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Summary: | During the last decade, there has been a wave of mergers and hostile takeovers throughout the corporate world. This wave has been accompanied by various defensive strategies of managers to defend target firms from these takeovers. These include: greenmail, golden parachutes, and leveraged management buyouts. This paper examines hostile takeovers and defenses against them from a stakeholder point of view; that is, from a consideration of the various obligations a firm has to the different groups that have a stake in the firm. I conclude that many stakeholders, such as workers and communities, have unjustly suffered as a result of hostile takeovers and the associated defenses, and that their rights as stakeholders have been violated. Finally, I suggest some possible reforms to protect these stakeholders in the future. |
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| ISSN: | 1573-0697 |
| Contains: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/BF00871956 |