Dividend policy, corporate governance and the managerial entrenchment hypothesis: an empirical analysis

Article Abstract:

The article validates the managerial entrenchment hypothesis through an examination of United Kingdom corporate dividend policy variation. A pronounced U-shaped relationship between insider ownership and dividend payout ratios is observed; calculations show managerial entrenchment occurs when insider ownership reaches 30%.

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Are golden parachutes an optimal contracting response or evidence of managerial entrenchment? Evidence from successful takeovers

Article Abstract:

Research into whether golden parachutes arise from optimal contracting or managerial entrenchment is presented. It is suggested that golden parachutes can restrict takeovers and entrench managers to the detriment of shareholders.

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The interrelationship between managerial ownership and board structure

Article Abstract:

Relation between corporate stockholding and composition of boards of directors of companies is described. Effects of convergence and divergence of ownership and management control are discussed.

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