in takeover activity appears discretely at the age-65 threshold, with no gradual increase as CEOs approach retirement age …, reinforcing the conclusion that retirement-age CEOs are more willing to accept takeover offers. These results suggest that the …This paper explores the impact of target CEOs' retirement preferences on the incidence, the pricing, and the outcomes …

choice to a work-retirement decision model and show that the optimal provision of choice is positively related to the degree …

application to reference dependence exhibited in German workers' retirement decisions. Both simulation and sufficient statistics … results suggest positive welfare effects of increasing the Normal Retirement Age, but ambiguous effects of financial … incentives to postpone retirement. Finally, we study how adopting alternative models of reference dependent preferences modifies …

to its effects on employee retirement. This is in contrast to the large literature on health-insurance-induced "job … administrative data on their retirement to identify the effects of retiree health insurance. As expected, the availability of retiree …

managers between countries whereas in the second scenario relocation possibilities exist. Our findings show that the effort …

findings suggest that, when managers engage in wasteful capital expenditures, welfare may decline if the cost of investment is …

compensation to managers in low-tax jurisdictions, if payroll enters the FA formula. Managers in high-tax jurisdictions face the …