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dc.contributor.authorHomRoy, Swarnodeep
dc.date.accessioned2018-06-29T20:20:45Z
dc.date.available2018-06-29T20:20:45Z
dc.date.issued2012
dc.identifierER3051
dc.identifier.citationHomRoy, S. (2012) Impact of Acquisition on CEO Pay, Journal of Business and Economic Statistics, , , ,
dc.identifier.issn0735-0015, ESSN: 1537-2707
dc.identifier.urihttps://eresearch.qmu.ac.uk/handle/20.500.12289/3051
dc.description.abstractWe examine the impact of acquisition on the pay of CEOs of S&P 1500 _rms from 1994-2010. We _nd insigni_cant e_ect of _rm performance on post-acquisition CEO pay. Controlling for _rm size, CEOs are paid about 3.5-4% premium in post-acquisition pay, which increases the pay of the median CEO of an acquiring _rm in the sample by US$ 1,73,000. We _nd no evidence of di_erential pay increase for domestic and international acquisitions. Post-acquisition increase in CEO pay is not contingent on the wealth e_ects and CEOs are not penalized for _wealth-reducing_ acquisitions. Our results suggest that a part of acquisition premium in CEO pay can be attributed to the strength of governance. Controlling for survivor bias, we observe a smaller acquisition premium in CEO pay.
dc.publisherAmerican Statistical Association
dc.relation.ispartofJournal of Business and Economic Statistics
dc.titleImpact of Acquisition on CEO Pay
dc.typearticle
dcterms.accessRightsrestricted
dc.description.facultydiv_BaM
dc.description.ispublishedinpress
dc.description.eprintid3051
rioxxterms.typearticle
qmu.authorHomRoy, Swarnodeep
dc.description.statusinpress


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