The structure of ownership and corporate acquisition strategies

@article{Wright2002TheSO,
  title={The structure of ownership and corporate acquisition strategies},
  author={P. Wright and M. Kroll and Augustine A. Lado and Bonnie F. Van Ness},
  journal={Southern Medical Journal},
  year={2002},
  volume={23},
  pages={41-53}
}
In this study, we examine in an agency-theoretic context the influence of executive equity stakes upon corporate strategy and firm value. We argue that beneficial, risk-increasing corporate strategies may initially be emphasized but non-value-maximizing, risk-reducing strategies may subsequently be emphasized as managers expand their stock ownership. We alternatively contend that stock options may have a consistently positive impact on firm risk taking and acquisition returns. The empirical… Expand
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