The Impact of Mergers and Acquisitions on Executive Pay in the United Kingdom

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dc.contributor.authorGuest, Paul M.
dc.date.accessioned2009-01-21T16:37:58Z
dc.date.available2009-01-21T16:37:58Z
dc.date.issued2009-02
dc.description.abstractThis paper examines the impact of acquisitions by UK acquirers on executive pay. The overall sample shows a significant transitory pay increase. Pay changes are not affected by target nationality or organizational form, although initial cross-border acquisitions result in higher pay. Pay increases are higher following acquisitions of targets with high pay, but not high-pay countries. CEOs are rewarded equally for bad and good acquisitions, and those well rewarded are more likely to re-acquire. However, bad acquisitions do not increase CEO wealth because CEO shareholding value declines. Pay impacts are not affected by the acquiring firms’ strength of corporate governance.en_UK
dc.identifier.citationP. M. Guest. The Impact of Mergers and Acquisitions on Executive Pay in the United Kingdom. Economica, Vol. 76, Issue 301, pp149-175, February 2009en_UK
dc.identifier.issn0013-0427
dc.identifier.urihttp://dx.doi.org/10.1111/j.1468-0335.2007.00674.x
dc.identifier.urihttp://hdl.handle.net/1826/3095
dc.language.isoenen_UK
dc.publisherBlackwell Publishingen_UK
dc.subjectExecutive compensationen_UK
dc.subjectacquisitionsen_UK
dc.subjectcross-borderen_UK
dc.subjectprivateen_UK
dc.subjectcorporate governanceen_UK
dc.titleThe Impact of Mergers and Acquisitions on Executive Pay in the United Kingdomen_UK
dc.typePostprinten_UK

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