The capital market in the process of corporate governance
Streszczenie
The paper focuses on the efficiency of a capital market in the process
of corporate governance. The efficiency is concerned in a context of the
company 's structure of ownership. It is stated that dispersed ownership is most
favorable for takeovers than in of concentrated ownership. The paper provides
a model of a takeover that analyses relationship between the company 's
ownership structure and the motives behind takeovers. A specific case of a
toehold as a factor exerting a discipline on managers' activities is investigated.
The paper ends up with same concluding remarks on the discussed issues.