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The Method of Payment in Corporate Acquisitions, Investment Opportunities, and Management Ownership
This article examines the motives underlying the payment method in corporate acquisitions. The findings support the notion that the higher the acquirer's growth opportunities, the more likely theExpand
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Executive stock ownership and performance tracking faint traces
We examine the relation between managers' financial interests and firm performance. Since the relation could go in either direction, we cast the analysis in a simultaneous equations framework. ForExpand
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Corporate Performance, Corporate Takeovers, and Management Turnover
This paper examines the hypothesis that an important role of corporate takeovers is to discipline the top managers of poorly performing target firms. The authors document that the turnover rate forExpand
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Corporate acquisitions by listed firms: the experience of a comprehensive sample
The sample used includes tender offers, mergers, acquisitions of privately held corporations, and comprehensive acquisitions of other firms' assets. According to the results, the majority of bidExpand
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Executive compensation and executive incentive problems: an empirical analysis
Abstract The question of whether the design of the corporate executive pay package reflects an attempt to reduce agency costs between shareholders and managers is addressed. The components of seniorExpand
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Postacquisition performance of acquiring firms
We investigate whether negative postacquisition stock-price performance of acquiring firms is a genuine phenomenon or a statistical artifact. Using a comprehensive sample of domestic acquisitions inExpand
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The Determinants of Shareholder Voting on Stock Option Plans
Over the past decade, executive compensation has become a controversial topic. Increasingly, corporate boards of directors are confronted by angry shareholder groups over the size and composition ofExpand
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An Empirical Analysis of Noncompetition Clauses and Other Restrictive Postemployment Covenants
Employment contracts for most employees are not publicly available, leaving researchers to speculate about whether they contain postemployment restrictions on employee mobility, and if so, what thoseExpand
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When Do CEOs Have Covenants Not to Compete in Their Employment Contracts?
When do American CEOs have covenants not to compete (CNCs) in their employment contracts? To answer this question, we collected a random sample of nearly 1000 CEO employment contracts for 500Expand
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Executive compensation and the performance of the firm
A sample of large industrial corporations is examined to determine whether there is a relationship between the levels of compensation received by the senior executives of those firms and the firms'Expand
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