RELATIONSHIP OF TAKEOVER GAINS TO THE STAKE OF MANAGERS IN THE ACQUIRING FIRM

被引：2
|
作者：
PETRY, G
SETTLE, J
机构：
来源：
JOURNAL OF ECONOMICS AND BUSINESS | 1991年 / 43卷 / 02期
关键词：
D O I：
10.1016/0148-6195(91)90011-K
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
Compensation shapes the interest of managers. Other things equal, a higher equity interest should ally management more closely to shareholders. This study compares managers' equity stake with shareholder gains in mergers. The amount of equity held by all officers and directors in the bidding firm is negatively related to the gain to shareholders in the target firm. However, no other comparisons show a systematic relationship between existing compensation arrangements and shareholder gains. © 1991.
引用
收藏
页码：99 / 114
页数：16
相关论文
共 50 条
  • [1] Choice of acquisition form in Australia and the post-takeover employment of target firm directors on the acquiring firm board
    Bugeja, Martin
    da Silva Rosa, Raymond
    Izan, H. Y.
    Ngan, Susan
    ACCOUNTING AND FINANCE, 2019, 59 (04): : 2235 - 2271
  • [2] The Role of Managers' Social Capital in Acquiring New Knowledge with Regard to the Ownership Structure of the Firm
    Tipuric, Darko
    Sliskovic, Tanja
    Hruska, Domagoj
    IFKAD - KCWS 2012: 7TH INTERNATIONAL FORUM ON KNOWLEDGE ASSET DYNAMICS, 5TH KNOWLEDGE CITIES WORLD SUMMIT: KNOWLEDGE, INNOVATION AND SUSTAINABILITY: INTEGRATING MICRO & MACRO PERSPECTIVES, 2012, : 2024 - 2045
  • [3] GfE gains stake in FNE
    不详
    AMERICAN CERAMIC SOCIETY BULLETIN, 2006, 85 (09): : 7 - 7
  • [4] Takeover Protection and Firm Value
    Andres, Christian
    Jacob, Martin
    Ulrich, Lennart
    REVIEW OF LAW & ECONOMICS, 2019, 15 (01)
  • [5] MERGERS AND THE PERFORMANCE OF THE ACQUIRING FIRM
    LUBATKIN, M
    ACADEMY OF MANAGEMENT REVIEW, 1983, 8 (02): : 218 - 225
  • [6] Examining the Relationship Between the Takeover Premium and the Environmental, Social and Governance Performances of a Target Firm
    Pampurini, Francesca
    Quaranta, Anna Grazia
    GLOBAL BUSINESS REVIEW, 2025,
  • [7] Bondholder governance, takeover likelihood, and division of gains
    Akdogu, Evrim
    Paukowits, Aysun Alp
    Celikyurt, Ugur
    JOURNAL OF CORPORATE FINANCE, 2023, 79
  • [8] Investors' activism and the gains from takeover deals
    Guo, Jie
    Paudyal, Krishna
    Utham, Vinay
    Xing, Xiaofei
    EUROPEAN JOURNAL OF FINANCE, 2020, 26 (01): : 64 - 83
  • [9] Pharmaceuticals - Schering gains a 25% stake in Medac
    不详
    EUROPEAN CHEMICAL NEWS, 1997, 67 (1750): : 20 - 20
  • [10] Stake effects on ambiguity attitudes for gains and losses
    Bouchouicha, Ranoua
    Martinsson, Peter
    Medhin, Haileselassie
    Vieider, Ferdinand M.
    THEORY AND DECISION, 2017, 83 (01) : 19 - 35
12345