when merger bonuses are present in deals where targets exhibit high pre-takeover abnormal accruals or are subject to SEC …Do merger bonuses to target CEOs facilitate a wealth transfer from target to acquirer shareholders? We test this … generate small synergies. When target CEOs get a merger bonus, acquirers pay lower premiums, but they also typically get less …

firm does not boost the overall value of the merger transaction. -- Merger ; acquisition ; target CEO ; corporate …

This paper examines the mechanisms by which acquirer CEOs are incentivized and their impact on merger decisions. We … argue that the pre-merger structure of CEO wealth impacts a CEO's risk tolerance and ultimately her willingness to undertake … a merger as well as the framework of the deal. As the riskiness of CEO wealth increases (as measured by excess vega or …

Using a sample of US bank mergers from 1995 to 2012, we observe that the pre-post merger changes in CEO bonus are … corporate governance but are positively correlated with pre-post merger changes in the M/B ratio of the bidding banks, in line …

I study a protectionist anti-takeover law introduced in 2014 that covers a subset of all firms in the economy. The law … decreased affected firms' likelihood of becoming the target of a merger or acquisition and had a negative impact on shareholder … takeover market by increasing the pay-for-performance sensitivity …