• DOI:10.1016/S0304-405X(01)00057-5
Corpus ID: 221321405

CEO Compensation and Bank Mergers

@article{Bliss2001CEOCA,
  title={CEO Compensation and Bank Mergers},
  author={R. Bliss and R. Rosen},
  journal={Journal of Financial Economics},
  year={2001},
  volume={61},
  pages={107-138}
}

R. Bliss, R. Rosen

Published 2001

Business

Journal of Financial Economics

Recent bank mergers generally did not improve relative operating performance or produce positive abnormal returns to acquiring bank shareholders. We examine the relationship between mergers and CEO compensation during 1986-1995, a period marked by overcapacity and frequent mergers. We find that mergers have a net positive effect on compensation, mainly via the effect of size on compensation. Compensation generally increases even if mergers cause the acquiring bank's stock price to decline, as… CONTINUE READING

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