Corporate spinoffs present a unique opportunity to analyze the choice of directors from a pool of potential candidates. We find that post-spinoff unit and remaining parent firms are more likely to select pre-spinoff parent directors who have: i) relevant industry expertise; and ii) pre-spinoff...

The use of equity incentives is significantly greater in countries with stronger insider trading restrictions, and these higher incentives are associated with higher total pay. These findings are robust to alternative definitions of insider trading restrictions and enforcement, and to panel...

Increases in CEO compensation following acquisitions are unique to stock-financed acquisitions. These compensation increases are driven by increases in equity-based compensation, and are concentrated in riskier acquirers, riskier acquisitions, and in acquirers whose CEOs have low exposure to the...