出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：In this paper you will find described the impact of takeovers, buy-outs and venture capital on corporate governance mechanisms. Corporate takeovers represent an important external governance mechanism, by means of which shareholders can replace underperforming or opportunistic managers. Also, many studies show that shareholders of takeout firms earn greater returns. Moreover, a buy-out can be considered a means of restoring active governance and settling many internal control issues. In particular, the management buy-outs (MBOs) induce a series of important consequences, such as capital restructuring in favor of the inside management.
