Does the Director Labor Market Offer Ex Post Settling-Up for CEOs? The Case of Acquisitions

@article{Harford2012DoesTD,
  title={Does the Director Labor Market Offer Ex Post Settling-Up for CEOs? The Case of Acquisitions},
  author={J. Harford and Robert J. Schonlau},
  journal={Organizational Behavior & Key Stakeholders eJournal},
  year={2012}
}
  • J. Harford, Robert J. Schonlau
  • Published 2012
  • Organizational Behavior & Key Stakeholders eJournal
  • A common view in the literature is that the director labor market provides an ex post settling-up for past decisions by rewarding CEO ability and actions that are consistent with shareholder interests. In this paper we focus on large CEO acquisition decisions to investigate whether the director labor market offers ex post settling-up for value-destroying decisions. Prior studies have found that the director labor market values CEO ability as reflected in overall firm performance suggesting that… CONTINUE READING
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