Narrow search
Showing 1 - 10 of 19,158
Cover Image
The executive turnover risk premium
Peters, Florian; Wagner, Alexander F. - 2009
We establish that CEOs of companies experiencing volatile industry conditions are more likely to be dismissed. At the same time, industry risk is, accounting for various other factors, unlikely to be associated with CEO compensation other than through dismissal risk. Using this identification...
Persistent link: https://www.econbiz.de/10003961496
Cover Image
Does CEO fitness matter?
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
Cover Image
CEO fitness and firm value
Limbach, Peter; Sonnenburg, Florian - 2015 - First Draft: September 2014, This Draft: May 2015
We provide evidence for a positive impact of CEO fitness on firm value (Tobin's Q). For each of the years 2001 to 2011, we define S&P 1500 CEOs as fit if they finish a marathon. Fit CEOs are associated with higher firm profitability and M&A announcement returns. Effects on firm value are...
Persistent link: https://www.econbiz.de/10010517150
Cover Image
All good things come to an end : CEO tenure and firm value
Limbach, Peter; Schmid, Markus M.; Scholz, Meik - 2015 - This draft: July 3, 2015
Our study is the first to provide systematic evidence of a hump-shaped CEO tenure-firm value relation. This pattern is supported by announcement returns to sudden CEO deaths, which mitigate endogeneity concerns. Cross-sectionally, firm value starts to decline after fewer years of CEO tenure in...
Persistent link: https://www.econbiz.de/10011344281
Cover Image
Does target CEO retention in acquisitions involving private equity acquirers harm target shareholders?
Bargeron, Leonce; Schlingemann, Frederik P.; Zutter, Chad J. - 2012
While there is widespread concern that target CEO retention by a private equity acquirer can result in a lower premium for target shareholders because of the potential conflict of interest of the CEO, it is also possible that target shareholders could benefit from CEO retention because it can...
Persistent link: https://www.econbiz.de/10009697733
Cover Image
Managerial entrenchment of anti-takeover devices : quasi-experimental evidence from Korea
Hwang, Sunwoo; Kim, U-chʾan - 2011
With the removal of statute-based anti-takeover provisions during the aftermath of Asian crisis, a significant number … firm-level anti-takeover provisions (ATP) vary over time (making firm fixed effects regression feasible) and its amendment …. Using a sample during 1999-2009, we find that firms with charter-based anti-takeover provisions are smaller in size, have …
Persistent link: https://www.econbiz.de/10011485749
Cover Image
CEO fitness and firm value
Limbach, Peter; Sonnenburg, Florian - 2014 - This Draft: September 2014
This study finds a positive relation between CEO fitness and firm value. For each of the years 2001 to 2011, we define CEOs of S&P 1500 companies as being fit if they finish a marathon. The literature suggests that fitness moderates stress and positively affects cognitive functions and...
Persistent link: https://www.econbiz.de/10010399327
Cover Image
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
Cover Image
Corporate governance
Lehmann, Erik - 2018 - Version , November 19th 2018
markets and contracts, adverse selection and moral hazard problems occur, where delegated (selected) managers could act in … managers. …
Persistent link: https://www.econbiz.de/10011928257
Cover Image
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