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The lower the stock price, relative to what it could be with more efficient management, the more attractive the take-over becomes to those who believe that they can manage the company more efficiently. And the potential return from the successful takeover and revitalization of a poorly run company
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In this way the market for corporate control could magnify the efficacy of corporate governance rules, and facilitate greater accountability of directors to their investors.
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Manne, Henry G. (1965). "Mergers and the Market for
Corporate Control". 73
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32:, "Mergers and the Market for Corporate Control". According to Manne:
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Scharfstein, D. (1988). "The
Disciplinary Role of Takeovers". 55
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28:. This was first described in an article by
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115:(1965) 73 Journal of Political Economy 110
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180:Concise Encyclopedia of Economics
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185:Library of Economics and Liberty
625:Debtor-in-possession financing
183:(2nd ed.). Indianapolis:
171:"Market for Corporate Control"
126:"Market for Corporate Control"
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109:
1:
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935:. You can help Knowledge by
878:. You can help Knowledge by
565:Staggered board of directors
153:Journal of Political Economy
18:market for corporate control
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997:Economics and finance stubs
682:Accretion/dilution analysis
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645:Leveraged recapitalization
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801:Sum-of-the-parts analysis
771:Modigliani–Miller theorem
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630:Dividend recapitalization
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445:Secondary market offering
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987:Mergers and acquisitions
834:List of investment banks
749:Free cash flow to equity
575:Super-majority amendment
500:Management due diligence
440:Seasoned equity offering
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62:Consolidation (business)
24:markets in facilitating
545:Shareholder rights plan
535:Post-merger integration
505:Managerial entrenchment
475:Contingent value rights
415:Initial public offering
931:-related article is a
874:-related article is a
687:Adjusted present value
550:Special-purpose entity
388:Direct public offering
358:At-the-market offering
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702:Conglomerate discount
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724:Economic value added
719:Discounted cash flow
67:Corporate governance
309:Senior secured debt
26:corporate takeovers
844:Outline of finance
756:Market value added
739:Financial modeling
697:Business valuation
620:Debt restructuring
398:Follow-on offering
383:Corporate spin-off
341:(terms/conditions)
258:investment banking
175:David R. Henderson
167:Macey, Jonathan R.
57:Business valuation
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692:Associate company
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635:Financial sponsor
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525:Pre-emption right
515:Minority discount
425:Private placement
324:Subordinated debt
279:Exchangeable debt
266:Capital structure
254:Corporate finance
87:Pre-emption right
82:Minority interest
77:Minority discount
52:Associate company
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133:. Retrieved
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560:Squeeze-out
530:Proxy fight
460:Mergers and
373:Bought deal
304:Senior debt
976:Categories
806:Tax shield
766:Mismarking
570:Stock swap
520:Pitch book
490:Divestment
368:Bookrunner
289:Pari passu
146:References
135:2021-03-08
992:Law stubs
929:economics
781:Pure play
674:Valuation
540:Sell side
403:Greenshoe
203:237794267
612:Leverage
590:Takeover
485:Demerger
470:Buy side
169:(2008).
45:See also
30:HG Manne
595:Reverse
580:Synergy
420:Pre-IPO
408:Reverse
329:Warrant
219:'s page
177:(ed.).
130:Econlib
201:
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22:equity
927:This
870:This
319:Stock
173:. In
104:Notes
933:stub
876:stub
256:and
199:OCLC
189:ISBN
16:The
872:law
155:110
978::
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