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&A decisions. This study runs statistical regressions on the likelihood of a merger, whether the deal is diversifying, how much … variable of interest and including controls for firm characteristics, merger characteristics, industry, and year. This paper …
Persistent link: https://www.econbiz.de/10012971517
We analyze the incentives of CEO inside debt in the form of pensions and deferred compensation in the context of merger … merger or acquisition activity. When firms with increasing levels of CEO inside debt decide to engage in an acquisition …
Persistent link: https://www.econbiz.de/10013298499
Previous studies argue that takeover targets’ CEOs can use high leverage as a signal for commitment to undertaking … value-enhancing projects, thus deterring the takeover attempts since the bankruptcy risk associated with high leverage can …
Persistent link: https://www.econbiz.de/10014253969
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
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
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
Our paper examines two critical members in the top management “subteam” – CEO and CFO – in firms' merger and …
Persistent link: https://www.econbiz.de/10012865707
Persistent link: https://www.econbiz.de/10003718783
Persistent link: https://www.econbiz.de/10003678626
We find that contrary to popular belief, CEOs with long compensation duration do not make better long-term investment decisions. Using a comprehensive pay duration measure, we find that acquisitions conducted by CEOs with long compensation duration receive more negative announcement returns, and...
Persistent link: https://www.econbiz.de/10014245039