haku: @indexterm chief executive officers / yhteensä: 802
viite: 138 / 802
| Tekijä: | Wulf, J. |
| Otsikko: | Do CEOs in mergers trade power for premium? Evidence from "mergers of equals" |
| Lehti: | Journal of law, economics and organization
2004 : OCT, VOL. 19:2, p. 60-101 |
| Asiasana: | Chief executive officers Mergers |
| Kieli: | eng |
| Tiivistelmä: | Chief executive officer (CEO) incentives are analyzed to negotiate shared control in the postmerger governance of the surviving company. Abnormal returns are studied in a sample of "mergers of equals" (MOEs) transactions in which the two companies are approximately equal in postmerger board representations. These transactions are friendly mergers generally characterized by premerger negotiations that result in both greater shared control and more equal sharing of merger gains between the two companies. On average, the value created measured by combined event returns is no different between MOEs and a matched sample of transactions. |
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