Elsaid, Eahab; Davidson III, Wallace N. - In: The Quarterly Review of Economics and Finance 49 (2009) 2, pp. 424-447
When boards hire CEOs, the board and successor CEO have an opportunity to redesign the predecessor's compensation contract. The CEO's relative bargaining power will influence the outcome of compensation negotiations. Analyzing 508 successions, we find that total compensation of successor CEOs...