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  • Influence
The CEO Pay Slice
We investigate the relationship between the CEO Pay Slice (CPS) – the fraction of the aggregate compensation of the top-five executive team captured by the CEO – and the value, performance, andExpand
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The Nature and Persistence of Buyback Anomalies
Using recent data, we reject the hypothesis that the buyback anomalies first reported by Lakonishok and Vermaelen (1990, Journal of Finance 45:455--77) and Ikenberry, Lakonishok, and Vermaelen (1995,Expand
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The CEO Pay Slice
We investigate the relation between the CEO Pay Slice (CPS)--the fraction of the aggregate compensation of the top-five executive team captured by the Chief Executive Officer--and the value,Expand
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Lucky CEOs and Lucky Directors
We study the relation between opportunistic timing of option grants and corporate governance failures, focusing on "lucky" grants awarded at the lowest price of the grant month. Option grantExpand
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The Many Facets of Privately Negotiated Stock Repurchases
We investigate the causes and consequences of 737 privately negotiated share repurchases in the years 1984-2001. In contrast to the negative announcement returns and positive repurchase premiumsExpand
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Board Overlap, Seat Accumulation and Share Prices
We examine the board overlap among firms listed in Switzerland. Collusion, managerial entrenchment, and financial participation cannot explain it. The overlap appears to be induced by banks and byExpand
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Board Seat Accumulation by Executives: A Shareholder's Perspective
While reformers have argued that multiple directorships for executives can destroy value, we investigate firms with executives that accept an outside directorship and find negative announcementExpand
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Takeover Defenses and Competition: The Role of Stakeholders
This article studies the interaction between takeover defenses and competition. We find that firms in more competitive industries have more takeover defenses. This suggests that product marketExpand
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Leverage and internal capital markets: evidence from leveraged recapitalizations
Abstract We study the internal allocation of resources for diversified firms that complete a leveraged recapitalization. Before the recapitalization, internal capital markets allocate investment toExpand
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The Best-Performing CEOs in the World
The real test of leadership is how a company performs over a CEO's entire tenure. These 50 chief execs earn high marks for delivering extraordinary results over the long term. Morten T. Hansen,Expand
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