Acquisition and Value: The Ethical Audit

Abstract

Argues that hostile takeovers cannot be morally justified on grounds which involve valuations sanctioned by prevalent interpretations of The Efficient Market Hypothesis. Demonstrates that such “valuations” are morally inadmissible on account of their “circularity”. Recommends a case‐by‐case approach by way of conclusion.

Citation

Malachowski, A. (1993), "Acquisition and Value: The Ethical Audit", Managerial Auditing Journal, Vol. 8 No. 1. https://doi.org/10.1108/02686909310023542