Managerial Share Ownership and the Stock Price Effects of Antitakeover Amendment Proposals
研究管理层持股比例如何影响反收购修正案提案的股价反应，发现除公平价格修正案外，管理层持股与股价反应呈负相关。
ABSTRACT Studies that test for an average stock price effect of antitakeover amendments present different results, disagreeing with respect to both the significance and the direction of the effect. This study determines whether effects can be identified when managerial share ownership and amendment type are considered. Results suggest a negative relation between managerial share ownership and the stock price reaction to all but fair price amendment proposals.