Loderer, Claudio; Rosenfeld, Ahron; Lewellen, Wilbur (1985). Merger decisions and executive stock ownership in acquiring firms. Journal of Accounting and Economics, 7(1-3), pp. 209-231. Elsevier 10.1016/0165-4101(85)90038-2
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This study supports the proposition that managerial welfare affects merger decisions. The abnormal stock returns experienced by bidder firms, from the time of the announcement of a merger bid through the stockholder approval date, are positively relaterd to the percentage of own-company stock held by the senior management of the bidder. The results suggest that substantial amounts of own-company share ownership help align the interests of stockholders and management.
Item Type: |
Journal Article (Original Article) |
|---|---|
Division/Institute: |
03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Financial Management |
UniBE Contributor: |
Loderer, Claudio, Rosenfeld, Ahron |
Subjects: |
300 Social sciences, sociology & anthropology > 330 Economics |
ISSN: |
0165-4101 |
Publisher: |
Elsevier |
Language: |
English |
Submitter: |
Karin Dolder |
Date Deposited: |
06 Feb 2014 09:44 |
Last Modified: |
05 Dec 2022 14:27 |
Publisher DOI: |
10.1016/0165-4101(85)90038-2 |
BORIS DOI: |
10.7892/boris.39600 |
URI: |
https://boris.unibe.ch/id/eprint/39600 |
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