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Books > Business & Economics > Business & management > Ownership & organization of enterprises > Takeovers, mergers & buy-outs
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Mergers and Acquisitions and Executive Compensation (Paperback)
Loot Price: R1,412
Discovery Miles 14 120
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Mergers and Acquisitions and Executive Compensation (Paperback)
Series: Routledge Studies in Corporate Governance
Expected to ship within 10 - 15 working days
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Over the past decades, the total value of executive compensation
packages has been rising dramatically, contributing to a wider pay
gap between the chief executive officer and the average worker. In
the midst of the financial turmoil that brought about a massive
wave of corporate failures, the lavish executive compensation
package has come under an intense spotlight. Public pressure has
mounted to revise the levels and the structure of executive pay in
a way that will tie more closely the executive wealth to that of
shareholders. Merger and acquisition (M&A) activities represent
an opportune setting for gauging whether shareholder value creation
or managerial opportunism guides executive compensation. M&As
constitute major examples of high-profile events prompted by
managers who typically conceive them as a means for achieving
higher levels of pay, even though they are frequently associated
with disappointing returns to acquiring shareholders. Mergers and
Acquisitions and Executive Compensation reviews the existing
empirical evidence and provides an integrative framework for the
growing body of literature that is situated at the intersection of
two highly debated topics: M&A activities and executive
compensation. The proposed framework structures the literature
along two dimensions, such as M&A phases and firm's role in a
M&A deal, allowing readers to identify three main streams of
research and five different conceptualizations of causal
relationships between M&A transactions and executive
compensation. The book makes a comprehensive review of empirical
studies conducted to date, aiming to shed more light on the current
and emerging knowledge in this field of investigation, discuss the
inconsistencies encountered within each stream of research, and
suggest promising directions for further exploration. This book
will appeal to researchers and students alike in the fields of
organizational behavior and governance as well as accounting and
accountability.
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