Journal of Corporate Finance Vol. 5 No. 4 1999
Greenmail premia, board composition and management shareholdings
Abstract
This paper investigates the association between premia paid in targeted share repurchases (greenmail) and the characteristics of the boards of directors. A nonlinear relationship is found between the premium paid and the proportion of shares held by the inside directors. The premium decreases as the proportion of unaffiliated outside directors increases.
- DOI
- 10.1016/s0929-1199(99)00007-3
- Volume
- 5
- Issue
- 4
- Pages
- 369-382
- Language
- en
- Sources
- bibtex:phds-export.bib crossref openalex