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A Short History of Golden Parachutes

Harvard Business Review

This was quickly followed by the era of hostile takeovers in the 1980s. The junk bond market made financing large takeovers possible and even the biggest among the Fortune 500 firms were no longer safe from a forced acquisition. In the past, such takeovers had largely been restricted to the world of smaller firms.

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What's Lost When Shareholders Rule

Harvard Business Review

The form of capitalism that has emerged in Britain is the textbook description of how to organize capital markets and corporate sectors. What exactly is wrong with the progressively greater control that banks, private equity investors, stock markets, and takeovers have exerted over the British corporate sector? Even in the U.S.,