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Accounting Rules? Stock Buybacks and Stock Options : Additional Evidence
Griffin, Paul A. - 2010
This paper finds that CEO stock options influence the choice, amount, and timing of funds distributed as a buyback. These results favor a managerial opportunism motive for buybacks over other theories and support two key research expectations - that buybacks impose option-induced agency costs on...
Persistent link: https://www.econbiz.de/10013141482
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The Effects of Corporate Acquisitions on CEO Compensation and CEO Turnover of Family Firms
De Cesari, Amedeo - 2016
This paper investigates the impact of corporate acquisitions on CEO compensation and CEO turnover of family firms in Continental Europe. We find that CEOs in family firms do not experience an increase in their compensation during the post-acquisition period, while there is a positive and...
Persistent link: https://www.econbiz.de/10013005674
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Contractual Revisions in Compensation : Evidence from Merger Bonuses to Target CEOs
Fich, Eliezer M. - 2015
when merger bonuses are present in deals where targets exhibit high pre-takeover abnormal accruals or are subject to SEC …
Persistent link: https://www.econbiz.de/10013036554
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Information Conduit or Agency Cost : Top Management and Director Interlock between Acquirers and Targets
Wu, Qingqing - 2017
This paper investigates the role of top management and board interlocks between acquirers and targets. I hypothesize that an interlock may exacerbate agency problems due to conflicting interests and lead to value-decreasing acquisition. An interlock may also serve as a conduit of information and...
Persistent link: https://www.econbiz.de/10012975768
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CEO Duality and Corporate Stewardship : Evidence from Takeovers
Ghazal, Victor - 2015
in the interest of their shareholders by bargaining 16.1% more aggressively in takeover negotiations than do single role …
Persistent link: https://www.econbiz.de/10013021327
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Antitakeover Provisions, Managerial Entrenchment and Firm Innovation
Chakraborty, Atreya - 2014
number of citations to patents. Thus managers who are protected from takeover market perform worse on innovation. However …
Persistent link: https://www.econbiz.de/10013060331
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Corporate governance
Lehmann, Erik - 2018 - Version , November 19th 2018
Corporate governance is a recent concept that encompasses the costs caused by managerial misbehavior. Corporate governance is concerned with how organizations in general, and corporations in particular, produce value and how that value is distributed among the members of the corporation, its...
Persistent link: https://www.econbiz.de/10011928257
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Does protectionist anti-takeover legislation lead to managerial entrenchment?
Frattaroli, Marc - 2018
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
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The Power to Decide on Takeovers : Directors or Shareholders, What Difference Does It Make?
Gatti, Matteo - 2014
contribution is to show who actually has power in a takeover and what factors are at work to give such power. Although directors … are traditionally considered to be in charge in deciding the outcome of a hostile takeover of a Delaware corporation … lack the power to determine the outcome of a takeover bid, the reason for that is not embedded in the takeover regime …
Persistent link: https://www.econbiz.de/10014153473
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Banking Relationships, Managerial Incentives, Board Monitoring and Corporate Cash Holdings : An Emerging Market Perspective
Yu, Hai-Chin - 2020
This paper uses Taiwanese data to examine the impact of firm-level corporate governance mechanisms on firms' average cash holdings. Specifically, it examines how a firm's number of banking relationships and the percentages of managerial ownership and board ownership impact the firm's level of...
Persistent link: https://www.econbiz.de/10012837473