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Unformatted text preview: 2. the board of directors 3. executive compensation We then consider the market for corporate control, an external corporate governance mechanism. Essentially, this market is a set of potential owners seeking to acquire undervalued firms and earn above-average returns on their investments by replacing ineffective top-level management teams. (Corporate Governance Mechanisms, 2011) Works Cited Corporate Governance Mechanisms. (2011, March 12). Retrieved March 11, 2011, from South University: http://myeclassonline.com/re/DotNextLaunch.asp? courseid=4777221&amp;userid=4401962&amp;sessionid=031dd9b42e&amp;tabid=I1yBEGT+ArHF3KTEkcISvVA1X ocK1nSPJP1V0reMNKzCyR7zqBTqIXCKTlwEYy99&amp;macid=ZNPlvKlHHjEi3BaNX5FOZI2eixpLzxdr exvHTIF6VUGMlyFEEip8rqMMpU5pVkwPUrjORT+nLuDVqj...
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- Spring '11