Showing 1 - 10 of 63
We examine the impact of acquisitions on executive pay in UK acquirers over 1984-2001. For the overall sample, which … affected by target nationality or organizational form, although initial cross-border acquisitions do result in higher pay. Pay … increases are higher following acquisitions of targets with high pay, but not of targets in high pay countries. CEOs are …
Persistent link: https://www.econbiz.de/10005813000
In this paper we use interview data to explore the new shareholder activism of mainstream UK institutional investors. We describe contemporary practices of corporate governance monitoring and engagement and how they vary across institutions, and explore the motivations behind them. Existing...
Persistent link: https://www.econbiz.de/10005687943
We draw on a series of in-depth interviews with senior fund managers and senior company executives to explore how …
Persistent link: https://www.econbiz.de/10005687966
This essay argues that the Enron affair has been misunderstood as a failure of monitoring, with adverse consequences for the drafting of the Sarbanes-Oxley Act and the Higgs report. Where Enron’s board failed was in underestimating the risks that were inherent in the company’s business plan...
Persistent link: https://www.econbiz.de/10005688010
Prior to the global financial crisis which began in 2007, corporate governance reforms of the preceding thirty years had promoted a shareholder-value based model of management for which there was little historical precedent. The underlying legal model of the firm retained a vestigial sense of...
Persistent link: https://www.econbiz.de/10010614652
In this paper we investigate the motives of high-tech acquieres by analysing their revealed preferences in terms of the high-tech companies they acquire.
Persistent link: https://www.econbiz.de/10005549407
In this paper we investigate the incidence of high technology acquisitions using a large international sample of … acquisitions by public high technology firms. Controlling for firms’ financial characteristics, we examine the impact of the … propensity to acquire new knowledge-related assets through acquisitions is driven by declining returns from the exploitation of a …
Persistent link: https://www.econbiz.de/10005162821
The current financial crisis has given rise to calls to toughen considerably the codes of corporate governance put in place in many countries to regulate corporate behaviour (e.g. the UK Combined Code). These codes vary slightly in form but tend to contain a mix of non-discretionary regulations...
Persistent link: https://www.econbiz.de/10010858394
acquiring company shareholders in the majority of corporate acquisitions, public discontent with some pay deals for top … changes in the size, composition and role of boards of directors, in the role of institutional shareholders, the remuneration … consequences of the changes since 1990 for governance structures. Finally, we examine whether these changes have affected takeover …
Persistent link: https://www.econbiz.de/10005687947
This paper critically examines the Greenspan-Summers-IMF thesis concerning the Asian crisis, which suggested that the fundamental causes of the Asian crisis lay in the microeconomic behavior of economic agents in these societies - in the Asian way of doing business. The paper concentrates on...
Persistent link: https://www.econbiz.de/10005687954