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Full-Text Articles in Finance
Financial Planning By Contract Food Service Management Companies, Raymond S. Schmidgall Ph.D., Cpa
Financial Planning By Contract Food Service Management Companies, Raymond S. Schmidgall Ph.D., Cpa
Hospitality Review
Drugs in the workplace is a growing problem that threatens a valuable human resource - the employee. Managers in the hospitality industry can take a proactive stance in meeting the problem head on. The authors discuss what managers can do.
Using Auction Theory To Inform Takeover Regulation, Peter Cramton, Alan Schwartz
Using Auction Theory To Inform Takeover Regulation, Peter Cramton, Alan Schwartz
Peter Cramton
This paper focuses on certain mechanisms that govern the sale of corporate assets. Under Delaware law, when a potential acquirer makes a serious bid for a target, the target’s Board of Directors is required to act as would "auctioneers charged with getting the best price for the stock-holders at a sale of the company.’’ The Delaware courts’ preference for auctions follows from two premises. First, a firm’s managers should maximize the value of their shareholders’ investment in the company. Second, auctions maximize shareholder returns. The two premises together imply that a target’s board should conduct an auction when at least …