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The Impact Of Takeovers, Leveraged Buy-Outs And Venture Capital On Corporate Governance

Author

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  • Andrei Stanculescu

    (Academy of Economic Studies, Bucharest)

Abstract

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.

Suggested Citation

  • Andrei Stanculescu, 2008. "The Impact Of Takeovers, Leveraged Buy-Outs And Venture Capital On Corporate Governance," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 11(11(528)(s), pages 364-369, November.
    • Handle: RePEc:agr:journl:v:11(528)(supplement):y:2008:i:11(528)(supplement):p:364-369
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