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The effects of ownership structure on corporate restructuring
Author(s) -
Bethel Jennifer E.,
Liebeskind Julia
Publication year - 1993
Publication title -
strategic management journal
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 11.035
H-Index - 286
eISSN - 1097-0266
pISSN - 0143-2095
DOI - 10.1002/smj.4250140904
Subject(s) - restructuring , business , shareholder , corporate governance , accounting , sample (material) , public ownership , market economy , finance , economics , chemistry , chromatography
This paper investigates the relationship between ownership structure and corporate restructuring in a sample of 93 surviving public Fortune 500 firms during the period 1981–87. The results show that blockholder ownership is associated significantly with corporate restructuring, suggesting that many managers restructured their corporations during the 1980s only when pressured to do so by large shareholders.