RT Article
T1 Vulture Investors, Predators of the 90s: An Ethical Examination
JF Journal of business ethics
VO 17
IS 5
SP 543
OP 555
A1 Carson, A. Scott
LA English
PB Springer Science + Business Media B. V
YR 1998
UL https://www.ixtheo.de/Record/1785610368
AB Investment in financially distressed companies has taken place since the end of the depression. But a new breed of predatory activist investors called "vultures" has emerged in recent years. They take sizable debt positions in insolvent companies with the intention of significantly increasing the value of their investment through aggressive negotiation either in bankruptcy or in pre-bankruptcy restructurings. Predators thrive on adversarial conflict. Vulture investment is legal, but is it morally acceptable? This paper argues that the strategies and tactics of vultures may be very unpleasant, but in themselves these are insufficient grounds for moral censure.
K1 Insolvent Company
K1 Ethical Examination
K1 Activist Investor
K1 Economic Growth
K1 Depression
DO 10.1023/A:1005718715162