TY  - CHAP
AB  - 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 investment for more than a year, the use of equity based CEO compensation increases while the use of cash based compensation decreases.
VL  - 9
SN  - 978-0-76231-133-0, 978-1-84950-289-4/1569-3732
DO  - 10.1016/S1569-3732(04)09004-8
UR  - https://doi.org/10.1016/S1569-3732(04)09004-8
AU  - Peck Sarah W.
ED  - Mark Hirschey
ED  - Kose John and
ED  - Anil  K. Makhija
PY  - 2004
Y1  - 2004/01/01
TI  - DO OUTSIDE BLOCKHOLDERS INFLUENCE CORPORATE GOVERNANCE PRACTICES?
T2  - Corporate Governance
T3  - Advances in Financial Economics
PB  - Emerald Group Publishing Limited
SP  - 81
EP  - 101
Y2  - 2024/05/13
ER  -