Abstract
The article focuses on tunneling, the term used to describe fraud committed by corporations and shareholders when selling low-valued shares of the company at a reduced price. Information is provided on the three types of tunneling: cash flow tunneling, asset tunneling, and equity tunneling. Topics include anti-tunneling measures enforced by governments and corporate freezeouts.
Authors
Vladimir Atanasov
Vladimir Atanasov
William & Mary, Raymond A. Mason School of Business, Williamsburg, Virginia, USA
Bernard Black
Nicholas J. Chabraja Professor
Northwestern University Law School and Kellogg School of Management Law School
Fellow, Research Member
Conrad Ciccotello
Conrad Ciccotello
Georgia State University, J. Mack Robinson College of Business, Atlanta, Georgia, USA