Key terms

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Key terms

  1. 1. Key Terms Blockholders: Share holder with large blocks of shares. Exit Based Mechanism: Corporate governance mechanism which focus on exit, indicating that share holders no longer have patience and are willing to exit by selling their shares. Golden Parachutes: Large compensation packages to incumbent managers should their firms be taken over. Junk Bond: Bonds that are rated below investment grade by the top bond-rating agencies. Poison Pills: The rights to either purchase additional shares or sell shares to the bidder at prices substantially higher than market value. Voice Based Mechanism: Corporate governance mechanisms which focus on share holder’s willingness to work with managers, usually through the board of directors, by “voicing” their concerns.

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