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Market Liquidity and Corporate Control: A Comment on Maug (1998)
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- Authors
- Issue Date
- 2016-12
- Publisher
- 서울대학교 경영대학 경영연구소
- Citation
- 경영논집, Vol.50, pp. 145-155
- Abstract
- This note points out a small mistake made in Maugs 1998 paper in the Journal of Finance. It is shown that a correct analysis of the problem yields results different from Maugs. In short, even when the market is very liquid, a large block holder with sufficient incentives to monitor the management does not emerge.
- ISSN
- 2384-2849
- Language
- English
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