Endnotes

1. William J. Megginson, Corporate Finance Theory (Reading, MA: Addison-Wesley, 1997), p. 40.

2. Ibid.

3. See, for example, Stuart Gillan and Laura Starks, "A Survey of Shareholder Activism: Motivation and Empirical Evidence," Contemporary Finance Digest 2, no. 3 (1998): 10 “34; Cynthia Campbell, Stuart Gillan, and Cathy Niden, "Current Perspectives on Shareholder Proposals: Lessons from the 1997 Proxy Season," Financial Management 28, no. 1 (1999): 89 “98; and Lilli Gordon and John Pound, "Information, Ownership Structure, and Shareholder Voting: Evidence from Shareholder-Sponsored Corporate Governance Proposals," Journal of Finance 47, no. 2 (1993): 697 “718.

4. Mike Elgan and Susan B. Shor, "Gloves Are Off in Merger Fight," HP World , February 2002, www.interex.org/hpworldnews/hpw202/01news.html.

5. Almar Latour and Kevin Delaney, "Outside the U.S., Executives Face Little Legal Peril," Wall Street Journal , August 16, 2002, p. A1.