Contractual revisions in compensation: Evidence from merger bonuses to target CEOs
Do merger bonuses to target CEOs facilitate a wealth transfer from target to acquirer shareholders? We test this hypothesis against an alternative that bonuses enable a useful contractual revision in compensation contracts when takeovers generate small synergies. When target CEOs get a merger bonus,...
|Published in:||Journal of accounting and economics, Vol. 61, No. 2 (2016), p. 338-368|
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