This paper empirically examines one motive for takeovers: to change control of firms that make acquisitions that diminish the value of their equity. Firms that subsequently become takeover targets make acquisitions that significantly reduce their equity value, and firms that do not become...

A growing number of companies use EVA or related measures of economic profits as metrics for corporate planning and executive compensation. Unlike traditional accounting measures of performance, EVA attempts to measure the value that firms create or destroy by subtracting a capital charge from...

Deregulation of the telecommunications industry is likely to result in significant changes in the governance structures of telecommunications firms. In particular, ownership structures of telecoms are expected to become more concentrated, the level of executive compensation is expected to...