Jump to ContentJump to Main Navigation
The Public Company Transformed$
Users without a subscription are not able to see the full content.

Brian Cheffins

Print publication date: 2018

Print ISBN-13: 9780190640323

Published to Oxford Scholarship Online: November 2018

DOI: 10.1093/oso/9780190640323.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 04 June 2020

The 1980s

The 1980s

Managerial Capitalism Taken Over

Chapter:
(p.155) 4 The 1980s
Source:
The Public Company Transformed
Author(s):

Brian R. Cheffins

Publisher:
Oxford University Press
DOI:10.1093/oso/9780190640323.003.0004

This chapter focuses on the 1980s, a market-oriented decade that marked the demise of managerial capitalism. Entrepreneurial ability became more highly prized than managerial competence, and, primarily due to increased takeover activity, a managerial comfort zone from which public company executives had benefitted was substantially eroded. During “the Deal Decade” takeover bids, most conspicuously ones launched by flamboyant corporate “raiders,” provided executives eager to forestall an unwelcome approach with a potent incentive to bolster shareholder returns. Deregulation and liberalized access to capital simultaneously expanded the discretion available to public company executives and intensified competitive pressure on large firms formerly insulated by substantial barriers to entry.

Keywords:   entrepreneurs, corporate raiders, leveraged buyouts, takeover defenses, boards of directors, shareholder value, deregulation, junk bonds

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .