Bebchuk, Lucian; Cohen, Alma; Wang, Charles C.Y. - In: Journal of Corporate Finance 25 (2014) C, pp. 140-154
that even though GPs facilitate some value-increasing acquisitions, they do have, on average, an overall negative effect on … managerial slack, and/or to GPs making it attractive for executives to go along with some value-decreasing acquisitions that do … not serve shareholders' long-term interests. Our findings have significant implications for ongoing debates on GPs and …
