True Or False? Golden Parachutes Benefit Shareholders
Golden parachute arrangements are often included in discussions of anti-takeover devices. For example, the late Harold Marsh, Jr. in his magnum opus, Marsh’s California Corporation Law, discusses golden parachutes in a section entitled “Defenses of Control”. Can it be that golden parachutes actually have the opposite effect? A recent study by Professor Eliezer Fich, Ahn Tran, and Ralph Walkling concludes “yes, but”: We show Read more...
