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behalf of the target shareholders. Our empirical evidence is not consistent with this belief. We find that, when a private … equity acquirer retains the target CEO, target shareholders receive an acquisition premium that is larger by as much as 18 … equity acquirers because, unlike public operating companies with managers in place, these acquirers have to find a CEO to run …
Persistent link: https://www.econbiz.de/10011963282
for TBEA, whose ownership is dispersed, anti-takeover was the main motivation for the adoption of GPs, and that managerial …
Persistent link: https://www.econbiz.de/10012799020
Persistent link: https://www.econbiz.de/10011734664
shareholders far removed from the firm's day-to-day operations; and delegated management, which opens up the possibility for … appointment rights, by which shareholders retain the right to appoint and remove directors. Next, it focuses on core decision …
Persistent link: https://www.econbiz.de/10011674062
We examine the influence of proxy advisors on firms’ shareholder engagement behavior. Our analyses exploit a quasi-natural experiment using Say-On-Pay voting outcomes near a threshold that triggers a review of engagement activities by Institutional Shareholder Services (ISS). Firms receiving...
Persistent link: https://www.econbiz.de/10012586749
Persistent link: https://www.econbiz.de/10014429448
Using hand-collected data on CEO appointments during shareholder activism campaigns, this study examines whether shareholder involvement in CEO recruiting affects frictions in CEO hiring decisions. The results indicate that appointments of CEOs who are recruited with shareholder activist...
Persistent link: https://www.econbiz.de/10012668370
The Dodd Frank Act (2010) empowered shareholders by mandating non-binding voting on executive compensation. This paper …
Persistent link: https://www.econbiz.de/10012996719
has come under increased scrutiny and affected shareholders' voting patterns. The more negative the attention to corporate … dealings, the more negatively shareholders vote on CEO compensation. This study takes a deep dive into the firms that are … mandated to allow shareholders' vote. However, there is an opportunity for further analysis of firms that use a volunteer …
Persistent link: https://www.econbiz.de/10014030317
amendments, "Just Vote No" campaigns, and other activist efforts. As institutional and other shareholders have attempted to …
Persistent link: https://www.econbiz.de/10013134894