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Persistent link: https://www.econbiz.de/10003294646
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This paper examines whether CEOs are fired after bad firm performance caused by factors beyond their control. Standard … economic theory predicts that corporate boards filter out exogenous industry and market shocks to firm performance when … are significantly more likely to be dismissed from their jobs after bad industry and bad market performance. A decline in …
Persistent link: https://www.econbiz.de/10012466601
Persistent link: https://www.econbiz.de/10011408730
This paper examines whether CEOs are fired after bad firm performance caused by factors beyond their control. Standard … economic theory predicts that corporate boards filter out exogenous industry and market shocks to firm performance when … are significantly more likely to be dismissed from their jobs after bad industry and bad market performance. A decline in …
Persistent link: https://www.econbiz.de/10013222315
This paper explores the impact of target CEOs' retirement preferences on takeovers. Using retirement age as proxy for CEOs' private merger costs, we find strong evidence that target CEOs' preferences affect merger activity. The likelihood of receiving a successful takeover bid is sharply higher...
Persistent link: https://www.econbiz.de/10009504779
This paper explores the impact of target CEOs' retirement preferences on the incidence, the pricing, and the outcomes of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone benefits of staying employed until the planned retirement...
Persistent link: https://www.econbiz.de/10009412377
This paper explores the impact of target CEOs' retirement preferences on the incidence, the pricing, and the outcomes of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone benefits of staying employed until the planned retirement...
Persistent link: https://www.econbiz.de/10013117262
This paper explores the impact of target CEOs' retirement preferences on takeovers. Using retirement age as proxy for CEOs' private merger costs, we find strong evidence that target CEOs' preferences affect merger activity. The likelihood of receiving a successful takeover bid is sharply higher...
Persistent link: https://www.econbiz.de/10013067043