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| Author: | Bodolica, V. Spraggon, M. |
| Title: | The implementation of special attributes of CEO compensation contracts around M&A transactions |
| Journal: | Strategic Management Journal
2009 : SEP, VOL. 30:9, p. 985-1011 |
| Index terms: | chief executive officers corporate governance strategic planning executive remuneration management compensation contracts Canada companies mergers |
| Freeterms: | acquisitions |
| Language: | eng |
| Abstract: | Studying a set of M&A deals undertaken by Canadian acquiring firms, this study explores how the implementation of special attributes of CEO compensation contracts is determined by both the acquisition and the acquirer features. It is found that when agency problems are higher, boards of directors tend to implement stronger mechanisms of incentive alignment around M&A transactions. It is shown that boards are reactive rather than proactive in dealing with agency problems. Data are further interpreted as regards to the unique aspects of the Canadian institutional context. |
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