@inproceedings{c206143d8152493cb8d453e2147a2efe,
title = "How does equity structure impact M\&A decision? A model based on private benefits",
abstract = "This paper focus on the private benefit of large shareholder's control right within the framework of Agency Theory 2 and construct a model which can illustrate how M\&A decision can be impacted by acquirer's equity structure. The model internalizes large shareholder's private benefit as a function of the shareholding ratio and specifies the mechanism through which large shareholder's shareholding ratio and ownership concentration impact the M\&A decision. This paper provides theoretical foundation for those empirical literatures which analyze the M\&As from the perspective of Agency Theory 2.",
keywords = "Equity structure, M\&A, Private benefit",
author = "Zhang Jia and Liyan Han",
year = "2011",
doi = "10.4028/www.scientific.net/AMR.271-273.742",
language = "英语",
isbn = "9783037851579",
series = "Advanced Materials Research",
pages = "742--747",
booktitle = "Advanced Materials and Information Technology Processing, AMITP 2011",
note = "2011 International Conference on Advanced Materials and Information Technology Processing, AMITP 2011 ; Conference date: 17-04-2011 Through 18-04-2011",
}