Liu, Yan; Padgett, Carol; Varotto, Simone - Henley Business School, University of Reading - 2014
Using a sample of US bank mergers from 1995 to 2012, we observe that the pre-post merger changes in CEO bonus are … significantly negatively related to the strength of corporate governance within the bidding bank. This suggests that bonus …. Overall, our results are consistent with the notion that, unlike salary and long-term compensation, bonus compensation is not …