After a large bank merger the compensation of the surviving bank's CEO often increases materially. Theories of executive compensation based on managerial productivity and optimal incentives suggest that changes in CEO compensation are related to the potential gains from merger. Alternatively,...

We investigate corporate governance of Japanese banks from the 1970s to the 1990s. In spite of economic shocks to the operating environment of Japanese banks over this period, there are few mergers, failures, and other changes in ownership and control. We also find that executive turnover is...

We examine a sample of 443 bank mergers between publicly traded banks announced during the 1990s to investigate empirically the role of full interstate banking deregulation. The pre-deregulation 1990s are characterized by value creation, with mergers involving a high degree of branch overlap...