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How managerial wealth affects the tender offer process

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Cited by:

  1. Bebchuk, Lucian & Cohen, Alma & Wang, Charles C.Y., 2014. "Golden Parachutes and the Wealth of Shareholders," Journal of Corporate Finance, Elsevier, vol. 25(C), pages 140-154.
  2. Dirk Jenter & Katharina Lewellen, 2015. "CEO Preferences and Acquisitions," Journal of Finance, American Finance Association, vol. 70(6), pages 2813-2852, December.
  3. Valeriya Gladkikh & Aleksandr Alekseev, 2023. "Agent-Based Modeling of Construction Firms’ Organizational Behavior in Public Tenders," JRFM, MDPI, vol. 16(2), pages 1-19, February.
  4. Eisfeldt, Andrea L. & Rampini, Adriano A., 2008. "Managerial incentives, capital reallocation, and the business cycle," Journal of Financial Economics, Elsevier, vol. 87(1), pages 177-199, January.
  5. Brian J. Hall, 2003. "Six Challenges in Designing Equity-Based Pay," NBER Working Papers 9887, National Bureau of Economic Research, Inc.
  6. Linda Allen & Julapa Jagtiani & Stavros Peristiani & Anthony Saunders, 2002. "The role of bank advisors in mergers and acquisitions," Staff Reports 143, Federal Reserve Bank of New York.
  7. Pietro Bonetti & Miguel Duro & Gaizka Ormazabal, 2020. "Disclosure Regulation and Corporate Acquisitions," Journal of Accounting Research, Wiley Blackwell, vol. 58(1), pages 55-103, March.
  8. Felipe Balmaceda, 2009. "Mergers and CEO Power," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 165(3), pages 454-486, September.
  9. Heitzman, Shane, 2011. "Equity grants to target CEOs during deal negotiations," Journal of Financial Economics, Elsevier, vol. 102(2), pages 251-271.
  10. Cotter, James F. & Shivdasani, Anil & Zenner, Marc, 1997. "Do independent directors enhance target shareholder wealth during tender offers?," Journal of Financial Economics, Elsevier, vol. 43(2), pages 195-218, February.
  11. Ryngaert, Michael, 2000. "Editor's Note," Journal of Corporate Finance, Elsevier, vol. 6(2), pages 111-115, July.
  12. Anna Bedford & Martin Bugeja & Matthew Grosse, 2021. "The choice of financial advisory and independent expert services in takeovers: evidence in a setting where the services are independent," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 3649-3683, June.
  13. North, David S., 2001. "The role of managerial incentives in corporate acquisitions: the 1990s evidence," Journal of Corporate Finance, Elsevier, vol. 7(2), pages 125-149, June.
  14. Maquieira, Carlos P. & Megginson, William L. & Nail, Lance, 1998. "Wealth creation versus wealth redistributions in pure stock-for-stock mergers," Journal of Financial Economics, Elsevier, vol. 48(1), pages 3-33, April.
  15. Denis, David J. & Serrano, Jan M., 1996. "Active investors and management turnover following unsuccessful control contests," Journal of Financial Economics, Elsevier, vol. 40(2), pages 239-266, February.
  16. Sokolyk, Tatyana, 2011. "The effects of antitakeover provisions on acquisition targets," Journal of Corporate Finance, Elsevier, vol. 17(3), pages 612-627, June.
  17. Denis, David J. & Denis, Diane K. & Sarin, Atulya, 1997. "Ownership structure and top executive turnover," Journal of Financial Economics, Elsevier, vol. 45(2), pages 193-221, August.
  18. Chen, Sheng-Syan & Chou, Robin K. & Lee, Yun-Chi, 2011. "Bidders' strategic timing of acquisition announcements and the effects of payment method on target returns and competing bids," Journal of Banking & Finance, Elsevier, vol. 35(9), pages 2231-2244, September.
  19. Yong Li & Ruth V. Aguilera, 2008. "Target Director Turnover in Acquisitions: A Conceptual Framework," Corporate Governance: An International Review, Wiley Blackwell, vol. 16(6), pages 492-503, November.
  20. Wanyi Chen & Ning Hu & Xiangfang Zhao, 2022. "Information asymmetry, regulatory inquiry, and company mergers and acquisitions: evidence from Shenzhen Stock Exchange comment letters," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(2), pages 2497-2542, June.
  21. Martin Bugeja & Raymond Da Silva Rosa, 2010. "Capital gains taxation and shareholder wealth in takeovers," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 50(2), pages 241-262, June.
  22. Peter M. Clarkson & Allen Craswell & Prue Mackenzie, 2008. "The Effect of Board Independence on Target Shareholder Wealth," Australian Accounting Review, CPA Australia, vol. 18(2), pages 135-148, June.
  23. HaiYan Yang & Daifei (Troy) Yao & Xin Qu, 2022. "How does independent directors’ reputation influence pay‐for‐performance? Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(1), pages 959-1007, March.
  24. João Paulo Vieito & António Cerqueira & Elísio Brandão & Walayet A. Khan, 2009. "Executive Compensation: the Finance Perspective," Portuguese Journal of Management Studies, ISEG, Universidade de Lisboa, vol. 0(1), pages 3-32.
  25. Elijah Brewer & William E. Jackson & Larry D. Wall, 2006. "When target CEOs contract with acquirers: evidence from bank mergers and acquisitions," FRB Atlanta Working Paper 2006-28, Federal Reserve Bank of Atlanta.
  26. Hadlock, Charles & Houston, Joel & Ryngaert, Michael, 1999. "The role of managerial incentives in bank acquisitions," Journal of Banking & Finance, Elsevier, vol. 23(2-4), pages 221-249, February.
  27. Li, Lin & Tong, Wilson H.S., 2018. "Information uncertainty and target valuation in mergers and acquisitions," Journal of Empirical Finance, Elsevier, vol. 45(C), pages 84-107.
  28. Martin Bugeja & Raymond Da Silva Rosa & Andrew Lee, 2009. "The Impact of Director Reputation and Performance on the Turnover and Board Seats of Target Firm Directors," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(1‐2), pages 185-209, January.
  29. Jocelyn Evans & Frank Hefner, 2009. "Business Ethics and the Decision to Adopt Golden Parachute Contracts: Empirical Evidence of Concern for All Stakeholders," Journal of Business Ethics, Springer, vol. 86(1), pages 65-79, April.
  30. Jeff Madura & Thanh Ngo, 2008. "Clustered Synergies In The Takeover Market," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 31(4), pages 333-356, December.
  31. Loderer, Claudio & Martin, Kenneth, 1997. "Executive stock ownership and performance Tracking faint traces," Journal of Financial Economics, Elsevier, vol. 45(2), pages 223-255, August.
  32. Ottorino Morresi, 2005. "Factors in Top Executive Turnover: An Empirical Analysis of the Italian Listed Firms," Rivista di Politica Economica, SIPI Spa, vol. 95(6), pages 105-133, November-.
  33. Porrini, Patrizia, 2006. "Are investment bankers good for acquisition premiums?," Journal of Business Research, Elsevier, vol. 59(1), pages 90-99, January.
  34. Elijah Brewer & William E. Jackson & Julapa Jagtiani, 2010. "Corporate governance structure and mergers," Working Papers 10-26, Federal Reserve Bank of Philadelphia.
  35. Lefanowicz, Craig E. & Robinson, John R. & Smith, Reed, 2000. "Golden parachutes and managerial incentives in corporate acquisitions: evidence from the 1980s and 1990s," Journal of Corporate Finance, Elsevier, vol. 6(2), pages 215-239, July.
  36. Etienne Redor, 2016. "Board attributes and shareholder wealth in mergers and acquisitions: a survey of the literature," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 20(4), pages 789-821, December.
  37. Elijah Brewer & William E. Jackson & Julapa Jagtiani, 2007. "Target's corporate governance and bank merger payoffs," Research Working Paper RWP 07-13, Federal Reserve Bank of Kansas City.
  38. Noel O'Sullivan & Pauline Wong, 1999. "Board composition, ownership structure and hostile takeovers: some UK evidence," Accounting and Business Research, Taylor & Francis Journals, vol. 29(2), pages 139-155.
  39. Bauguess, Scott W. & Moeller, Sara B. & Schlingemann, Frederik P. & Zutter, Chad J., 2009. "Ownership structure and target returns," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 48-65, February.
  40. Darren Henry, 2005. "Directors’ Recommendations in Takeovers: An Agency and Governance Analysis," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(1‐2), pages 129-159, January.
  41. Niamh Brennan, 1999. "Voluntary Disclosure of Profit Forecasts by Target Companies in Takeover Bids," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 26(7‐8), pages 883-917, September.
  42. Madura, Jeff & Ngo, Thanh & Viale, Ariel M., 2012. "Why do merger premiums vary across industries and over time?," The Quarterly Review of Economics and Finance, Elsevier, vol. 52(1), pages 49-62.
  43. Bates, Thomas W. & Lemmon, Michael L., 2003. "Breaking up is hard to do? An analysis of termination fee provisions and merger outcomes," Journal of Financial Economics, Elsevier, vol. 69(3), pages 469-504, September.
  44. , 2009. "The Impact of Director Reputation and Performance on the Turnover and Board Seats of Target Firm Directors," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 36(1-2), pages 185-209.
  45. Li, Yong & Aguilera, Ruth V., 2008. "Target Director Turnover in Acquisitions: A Conceptual Framework," Working Papers 08-0106, University of Illinois at Urbana-Champaign, College of Business.
  46. Khorana, Ajay & Zenner, Marc, 1998. "Executive compensation of large acquirors in the 1980s," Journal of Corporate Finance, Elsevier, vol. 4(3), pages 209-240, September.
  47. Bugeja, Martin, 2007. "Voluntary use of independent valuation advice by target firm boards in takeovers," Pacific-Basin Finance Journal, Elsevier, vol. 15(4), pages 368-387, September.
  48. Noel O'Sullivan & Pauline Wong, 1998. "Internal versus External Control: An Analysis of Board Composition and Ownership in UK Takeovers," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 2(1), pages 17-35, March.
  49. Ryngaert, Michael & Scholten, Ralph, 2010. "Have changing takeover defense rules and strategies entrenched management and damaged shareholders? The case of defeated takeover bids," Journal of Corporate Finance, Elsevier, vol. 16(1), pages 16-37, February.
  50. Caiazza, Stefano & Pozzolo, Alberto Franco, 2016. "The determinants of failed takeovers in the banking sector: Deal or country characteristics?," Journal of Banking & Finance, Elsevier, vol. 72(S), pages 92-103.
  51. Yuping Zeng & Thomas J. Douglas & Changqi Wu, 2013. "The Seller's Perspective on Determinants of Acquisition Likelihood: Insights from China's Beer Industry," Journal of Management Studies, Wiley Blackwell, vol. 50(4), pages 673-698, June.
  52. Christoph Schmidhammer & Sebastian Lobe & Klaus Röder, 2016. "The day the index rose 11 %: a clinical study on price discovery reversal," Review of Quantitative Finance and Accounting, Springer, vol. 46(1), pages 79-106, January.
  53. James Ang & Irena Hutton & Mary Anne Majadillas, 2014. "Manager Divestment in Leveraged Buyouts," European Financial Management, European Financial Management Association, vol. 20(3), pages 462-493, June.
  54. G S Sood & S Kaur, 2004. "Predicting Corporate Takeovers in India: An Empirical Analysis," Vision, , vol. 8(2), pages 57-67, July.
  55. Christoph Schmidhammer & Sebastian Lobe & Klaus Röder, 2016. "The day the index rose 11 %: a clinical study on price discovery reversal," Review of Quantitative Finance and Accounting, Springer, vol. 46(1), pages 79-106, January.
  56. Eckbo, B. Espen, 2009. "Bidding strategies and takeover premiums: A review," Journal of Corporate Finance, Elsevier, vol. 15(1), pages 149-178, February.
  57. Flanagan, David J. & O'Shaughnessy, K. C., 2003. "Core-related acquisitions, multiple bidders and tender offer premiums," Journal of Business Research, Elsevier, vol. 56(8), pages 573-585, August.
  58. repec:arp:tjssrr:2019:p:1-10 is not listed on IDEAS
  59. St-Pierre, Josee & Gagnon, Jean-Marie & Saint-Pierre, Jacques, 1996. "Concentration of voting rights and board resistance to takeover bids," Journal of Corporate Finance, Elsevier, vol. 3(1), pages 45-73, December.
  60. Maslinawati Mohamad* & Surendranath Rakesh Jory & Nnamdi Madichie, 2018. "Acquisitions of Financially Constrained Targets," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 868-877:5.
  61. Jory, Surendranath R. & Ngo, Thanh N. & Wang, Daphne, 2016. "Credit ratings and the premiums paid in mergers and acquisitions," Journal of Empirical Finance, Elsevier, vol. 39(PA), pages 93-104.
  62. Henry, Darren, 2004. "Corporate governance and ownership structure of target companies and the outcome of takeovers," Pacific-Basin Finance Journal, Elsevier, vol. 12(4), pages 419-444, September.
  63. P. S. Sudarsanam, 1995. "The role of defensive strategies and ownership structure of target firms: Evidence from UK hostile takeover bids," European Financial Management, European Financial Management Association, vol. 1(3), pages 223-240, November.
  64. Offenberg, David & Officer, Micah S., 2014. "The totality of change-in-control payments," Journal of Corporate Finance, Elsevier, vol. 29(C), pages 75-87.
  65. Levit, Doron, 2017. "Advising shareholders in takeovers," Journal of Financial Economics, Elsevier, vol. 126(3), pages 614-634.
  66. Fich, Eliezer M. & Cai, Jie & Tran, Anh L., 2011. "Stock option grants to target CEOs during private merger negotiations," Journal of Financial Economics, Elsevier, vol. 101(2), pages 413-430, August.
  67. Darren Henry, 2005. "Directors’ Recommendations in Takeovers: An Agency and Governance Analysis," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(1‐2), pages 129-159, January.
  68. Carline, Nicholas F. & Linn, Scott C. & Yadav, Pradeep K., 2014. "Corporate governance and the nature of takeover resistance," CFR Working Papers 14-01, University of Cologne, Centre for Financial Research (CFR).
  69. Caiazza, Stefano & Pozzolo, Alberto Franco, 2014. "The determinants of abandoned M&As in the banking sector," Economics & Statistics Discussion Papers esdp14074, University of Molise, Department of Economics.
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