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Outside Directors at Early-Stage Startups
Venugopal, Buvaneshwaran; Yerramilli, Vijay - 2020
through IPO, although presence of an investor-director makes exit via acquisition more likely …
Persistent link: https://www.econbiz.de/10014033083
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Founder CEOs and Acquirer Returns : Evidence from IPO Firms
Lee, Joon Mahn - 2016
Drawing from the literature on entrepreneurial overconfidence and M&As, we argue that founder CEO-managed firms perform worse than professional CEO-managed firms when they participate in M&A transactions. We test our predictions using a sample of acquisitions by newly listed US public firms from...
Persistent link: https://www.econbiz.de/10012999723
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Merger performance and managerial incentives
Kräkel, Matthias; Müller, Daniel - 2014
information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … obtain high-powered incentives and, hence, a high personal income at the merger-management stage. …
Persistent link: https://www.econbiz.de/10011430291
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Merger efficiency and managerial incentives
Kräkel, Matthias; Müller, Daniel - 2013
information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … obtain high-powered incentives and, hence, a high personal income at the merger-management stage. We derive conditions under …
Persistent link: https://www.econbiz.de/10010198514
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When to go and how to go? : founder and leader transition in private equity firms
Lerner, Joshua; Noble, Diana - 2021
Leadership transition in private equity firms is an understudied field, despite the important, albeit controversial, role such firms play in developed economies. We analyzed 260 firms in an empirical study, supplemented by qualitative interviews with a small sample of highly experienced LPs and...
Persistent link: https://www.econbiz.de/10013173353
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Valuable Choices : Prominent Venture Capitalists' Influence on Startup CEO Replacements
Conti, Annamaria - 2020
This paper explores how prominent VCs affect CEO replacement in startups. Defining prominence using eigenvector centrality, we employ matching methods and instrumental variables to show that startup CEO replacement occurs more often, and faster, when prominent VCs participate. We further explore...
Persistent link: https://www.econbiz.de/10012855694
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Valuable Choices : Prominent Venture Capitalists' Influence on Startup CEO Replacements
Conti, Annamaria - 2018
This paper explores how prominent VCs affect CEO replacement in startups. Defining prominence using eigenvector centrality, we employ matching methods and instrumental variables to show that startup CEO replacement occurs more often, and faster, when prominent VCs participate. We further explore...
Persistent link: https://www.econbiz.de/10012936426
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Does CEO fitness matter?
Limbach, Peter; Sonnenburg, Florian - 2015 - This draft: November 2015
This study provides evidence suggesting that CEOs’ physical fitness has a positive impact on firm value, consistent with the beneficial effects of fitness on, e.g., cognitive functions, stress coping and job performance. For each of the years 2001 to 2011, we define S&P 1500 CEOs as fit if...
Persistent link: https://www.econbiz.de/10011392655
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Governance mandates, outside directors, and acquirer performance
Dahya, Jay; Golubov, Andrey; Petmezas, Dimitris; … - 2016
We use hand-collected board data around the issuance of two distinct government-led board structure mandates in the U.K. to establish the effect of outside directors on acquirer performance. Increases in outside director representation are associated with better acquirer returns in deals...
Persistent link: https://www.econbiz.de/10011646285
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Does protectionist anti-takeover legislation lead to managerial entrenchment?
Frattaroli, Marc - 2018
decreased affected firms' likelihood of becoming the target of a merger or acquisition and had a negative impact on shareholder …I study a protectionist anti-takeover law introduced in 2014 that covers a subset of all firms in the economy. The law … takeover market by increasing the pay-for-performance sensitivity …
Persistent link: https://www.econbiz.de/10011875653