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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

Stock Performance or Entrenchment? The Effects of Mergers and Acquisitions on CEO Compensation

Kumar, Praveen - 2012

Using a large sample of U.S. acquiring and non-acquiring firms and covering a broad sample of transactions, we examine the effects of mergers and acquisitions (M&A) on CEO compensation during 1993-2006, a period of intense M&A activity. We alleviate endogeneity concerns through dynamic panel...

Persistent link: https://www.econbiz.de/10013101686

Mergers and Acquisitions : CEO Duality, Operating Performance and Stock Returns

Pham, Nga - 2014

The paper provides evidence, in an emerging market context in the Pacific Basin, that the CEO duality leadership structure of a firm does impact the strategic decisions made by the firm. Specifically, firms that are run by CEO duality structure are perceived by the capital market to be better...

Persistent link: https://www.econbiz.de/10013059716

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

Timing CEO Turnovers : Evidence from Delegation in Mergers and Acquisitions

Greene, Daniel; Smith, Jared - 2021

We examine the role of delegation in predicting CEO successions. Using a novel proxy for delegation in mergers and acquisitions, we find that overall CEO turnover rates are about one third higher following deals where the CEO delegates to a senior manager versus deals with no observable...

Persistent link: https://www.econbiz.de/10013237129

Compensations of top executives and M&A behaviors : an empirical study of listed companies

Xue, Jiao; Fan, Heng; Dong, Zhanxun - In: International Journal of Financial Studies : open … 8 (2020) 4/64, pp. 1-13

This study empirically examines the relationship between executive compensation and mergers and acquisitions (M&A) behaviors by identifying the influence of short- and long-term incentive on the propensity and scale of M&A. When the short-term incentive is insufficient, M&A behaviors serve as a...

Persistent link: https://www.econbiz.de/10012321119

Busy Directors and Firm Performance : Evidence from Mergers

Hauser, Roie - 2017

This paper studies whether director appointments to multiple boards impact firm outcomes. To overcome endogeneity of board appointments, I exploit variation generated by mergers that terminate entire boards and thus shock the appointments of those terminated directors. Reductions of board...

Persistent link: https://www.econbiz.de/10012959572

The Impact of Bank Merger Growth on CEO Compensation

Chen, Zhian - 2017

characterised by significant banking consolidation. We show that CEO compensation is positively related to both merger growth and … non-merger internal growth, with the former relation being higher in magnitude. While CEO pay–risk sensitivity is not … significantly related to merger growth, CEO pay–performance sensitivity is negatively and significantly related to merger growth …

Persistent link: https://www.econbiz.de/10012967393

SPACs : Post-Merger Survival

Vulanovic, Milos - 2017

their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … determining post-merger outcomes of new company, specifically when it comes to their survival/failure. Namely, increases in pre-merger … commitment by SPAC stakeholders and initial positive market performance increase post-merger survival likelihood. On the contrary …

Persistent link: https://www.econbiz.de/10012969005

An Anatomy of Serial Acquirers, M&A Learning, and the Role of Post-Merger Integration

Kengelbach, Dr. Jens - 2012

takeover performance, focusing on the benefits of organizational learning and the detriments of post-merger integration (PMI …

Persistent link: https://www.econbiz.de/10013113821