Takeovers: An Economic and Ethical Perspective

  • Norman Barry


The 1980s was the age of the takeover boom in Anglo-American economies; although it was by no means the most extreme example in the USA’s economic history.1 It was an era in which considerable disruption was caused to economic organizations; in plant relocation, management restructuring, considerable layoffs and localised unemployment. In ethical terms it was thought to be an example of rampant self-interest and unrestrained individualism.


Business Ethic Stock Market Share Price Market Process Efficient Market Hypothesis 
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  1. 3.
    So far from the 1980s being the age of greed in the USA it was an era of remarkable charitable giving, see R. Bartley, The Seven Fat Years and How to Do It Again (New York: Free Press, 1994) p. 5.Google Scholar
  2. 7.
    The Keiretsu in Japan, a complex system of interlocking directorships, prevents takeovers in that country. For the Japanese banking and financial systems, see M. Flaherty and I. Hiroyuki, ‘The Banking-Industrial Complex’, in D. Okimoto and T. Roblen (eds) Inside the Japanese System (Stanford: Stanford University Press, 1988).Google Scholar
  3. 9.
    For criticisms of the takeover mechanisms see essays by L. Newton and P. Steidlmeier, in W. Hoffman, R. Frederick and E. Petry (eds) The Ethics of Organizational Transformation: Mergers, Takeovers and Corporate Restructuring (New York: Quorum Books, 1989).Google Scholar
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© Norman Barry 1998

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  • Norman Barry

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