Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Business
Corporate Governance And Anti-Takeover Devices, Helen Lange, Ian Ramsay, Li-Anne Woo
Corporate Governance And Anti-Takeover Devices, Helen Lange, Ian Ramsay, Li-Anne Woo
Li-Anne Woo
This paper seeks to establish what form of management structure, ownership structure and financial characteristics are exhibited by firms that propose and subsequently adopt anti-takeover charter amendments (ATCAs) in Australia over the period June 1986 to December 1990. An ATCA is a restriction of partial takeover activity implemented through shareholder approval to changes in a firm's constitution. Approval for such changes is obtained through majority agreement from a plebiscite of shareholders. The study adopts a control sample design to analyse if characteristics differ statistically from adopting ATCA firms and those which do not adopt ATCAs during the investigation period. Following …