DO OUTSIDE BLOCKHOLDERS INFLUENCE CORPORATE GOVERNANCE PRACTICES

@inproceedings{Peck2004DOOB,
  title={DO OUTSIDE BLOCKHOLDERS INFLUENCE CORPORATE GOVERNANCE PRACTICES},
  author={Sarah W. Peck},
  year={2004}
}
This study investigates whether block acquisitions lead to changes in board and CEO compensation characteristics and finds that block purchasers do not play a significant role in improving the firm’s governance practices. However, the majority of professional investors have sold their block within a year, suggesting that they do not own their stock long enough to alter governance policies nor to benefit from such changes. For the smaller number of firms where a new blockholder maintains their… Expand
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