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Impact of Acquisitions on CEO pay

Homroy, Swarnodeep (2012) Impact of Acquisitions on CEO pay. In: BAM, 2012-09-11 - 2012-09-13. (Submitted)

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    I examine the impact of acquisition on the pay of CEOs of S&P 1500 firms from 1994-2010. I find insignificant effect of firm performance on post-acquisition CEO pay. Controlling for firm size, CEOs are paid a premium in post-acquisition pay. I find no evidence of differential pay increase for domestic and international acquisitions. Post-acquisition increase in CEO pay is not contingent on the wealth effects and CEOs are not penalized for 'wealth-reducing' acquisitions. I find evidence that a part of acquisition premium in CEO pay can be attributed to the strength of governance. Controlling for survivor bias, the effect of acquisition on CEO pay is downward adjusted.

    Item Type: Conference or Workshop Item (Paper)
    Journal or Publication Title: BAM
    Subjects: ?? hb ??
    Departments: Lancaster University Management School > Economics
    ID Code: 53862
    Deposited By: ep_importer_pure
    Deposited On: 01 May 2012 16:28
    Refereed?: Yes
    Published?: Submitted
    Last Modified: 10 Oct 2017 20:51
    Identification Number:

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