justice can explain the frequently reported low orgranizational commitment of managers in corporate mergers. Specifically, it … trust might function as a mediator. Design/methodology/approach - A total of 128 managers from 37 companies completed a … variables cannot be drawn. Practical implications - The authors recommend that top managers should pay extra attention to timely …

The effect of severance pay on management behavior during a takeover battle is generally ambiguous. Yet, the severance … still benefits from the increase in the merged firm's total value. Moreover, given that the managers are compensated … according to an identical linear incentive scheme, the optimal shareholder policy always entails a corner solution. Managers …