The battle for corporate control and share class structure : an experimental approach

• Main Authors: Hng, Eng Ngee, Hong, Foo Liang, Loke, Wee Zheng
• Other Authors: Bao Te
• Format: Final Year Project
• Language: English
• Published: 2018
• Subjects: DRNTU::Humanities
• Online Access: http://hdl.handle.net/10356/73649
• Institution: Nanyang Technological University

In this paper, we test the theoretical conclusions of Grossman and Hart (1988) using an experimental approach. They concluded that one-share-one vote promotes value-increasing takeovers and discourages value-decreasing takeovers compared to the dual class share structure. Four treatment variations w...