| Theorist | Theory |
|---|
| unmonitored managers will try to build corp empires through pursuit of neg NPV mergers. Motive- to make management team indispensible to the firm: greater size, team expertise | |
| some managers overestimate their own managerial capabilities & pursue takeovers with belief they can better manage their takeover target than the target firm can | |
| managers will use excess cash to invest in mergers with negative NPV to build corp. empires from which managers will gain personal benefits | |
| 'poorly monitored managers will pursue mergers to maximize their firm’s asset size' | |
1-100 
Animals A-Z 
Drawing a Blank
