Brusa, Jorge; Lee, Wayne L.; Shook, Carole - In: Managerial Finance 35 (2009) March, pp. 346-356
Purpose – The purpose of this paper is to examine the effects of golden parachutes on shareholders' wealth when the measure is used as a compensation device instead of a takeover defense. The results show that the adoption of the measure has a negative influence on shareholders' wealth. These...
