This paper examines the mechanisms by which acquirer CEOs are incentivized and their impact on merger decisions. We argue that the pre-merger structure of CEO wealth impacts a CEO's risk tolerance and ultimately her willingness to undertake a merger as well as the framework of the deal. As the...

Using a sample of firms listed on the S&P1500 index for the period 2006 – 2021, we develop a comprehensive board refreshment index to examine why firms refresh as well as to consider the effects of such changes on the monitoring efforts of the board. We measure refreshment as a within board...