power, but superior governance is associated with greater relatedness between the target and acquirer. We also find that the … effect of CEO power on a firm’s acquisition activity varies according to the source of that power. Our results suggest that … the relationships between governance, CEO power, and acquisition activity are complex …

controlling shareholders rather than shareholders from managers. In many countries minority shareholders are afforded this …

economically more valuable. Investment quality also improves, manifesting in better takeover performance. Our results suggest that …

In this paper, I show that CEO power, which arises from differences in national culture, can weaken a firm's governance … CEOs. Overall, the results suggest that the power and importance of CEOs vary across countries …

This paper examines the relation between managerial power and compensation for Chief Executive Officers of S&P 500 … compensation as a “power premium” and investigate this power premium based on two competing views. The managerial ability view … argues that the power premium compensates CEOs for their better managerial talent while the managerial power view argues that …

The optimal view of managerial power theory suggests that corporate boards reward CEOs with power for good firm …, that are outside the CEO's control. Contrary to the prediction, we find that CEOs are rewarded with power for luck. In the … baseline specification, a one standard deviation increase in firm performance due to luck leads to a 3% increase in CEO power …

endogeneity concerns in the context of corporate governance, we explore the relation between CEO power and firm performance, as an … dealing with the endogeneity issues, we find strong evidence that the true relationship between CEO power and subsequent firm …

Based on a large international sample, we show how the decision-making power of CEOs in conjunction with prevailing … relation between CEO power and CSR choice. Our results are robust to alternative sample compositions, different variable …