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| Author: | Girma, S. Thompson, S. Wright, P. W. |
| Title: | The impact of merger activity on executive pay in the United Kingdom |
| Journal: | Economica
2006 : MAY, VOL. 73:290, p. 321-339 |
| Index terms: | executives mergers pay united kingdom |
| Language: | eng |
| Abstract: | This paper examines the impact of mergers and acquisitions on the remuneration of CEOs in the UK between 1981 and 1996. The results show that CEO pay is not strongly related to company performance, but increases in firm size do have significant impact. They also showed evidence that acquisition offer CEOs the scope to influence their pay positively. The paper suggests that shareholder-principals have at least some success in penalizing managers for unwarranted, empire-building, mergers. |
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