Strategic Management Journal, Vol. 14, Special Issue: Corporate Restructuring. (Summer, 1993),
pp. 15-31.
This paper investigates the relationship between ownership structure and corporate restructuring in a sample of 93 surviving public Fortune 500 firms during the period 1981-87. The results show that blockholder ownership is associated significantly with corporate restructuring, suggesting that many managers restructured their corporations during the 19802 only when pressured to do so by large shareholders.
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