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the performance of private acquisitions, as measured by abnormal announcement returns, has a statistically significant … positive effect of plausible economic magnitude on CEO compensation. Public acquisitions exhibit a smaller positive effect that … is statistically insignificant. For both, acquisition activity (number of acquisitions) has a statistically significant …
Persistent link: https://www.econbiz.de/10012520496
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In this paper, we test empirically whether there is a relationship between corporate income taxes and CEO bonus payments. Using Compustat and ExecuComp data from 1992 to 2010, we find mixed results. Looking at the whole sample, the average bonus contract rewards tax savings excessively in...
Persistent link: https://www.econbiz.de/10010346227
We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...
Persistent link: https://www.econbiz.de/10012584217
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The paper investigates the role of CEO's equity and risk incentives in boosting securitization in the financial industry and in motivating executives to reduce the perceived risk while betting on it. Using a sample of US financial institutions over the period 2003-2009 we document that CEOs with...
Persistent link: https://www.econbiz.de/10013093375
In this paper, we test empirically whether there is a relationship between corporate income taxes and CEO bonus payments. Using Compustat and ExecuComp data from 1992 to 2010, we find mixed results. Looking at the whole sample, the average bonus contract rewards tax savings excessively in...
Persistent link: https://www.econbiz.de/10010377191
We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...
Persistent link: https://www.econbiz.de/10012599249