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Corporate governance “bundles” and firm acquisitiveness
Corporate Governance: An International Review ( IF 5.660 ) Pub Date : 2021-03-19 , DOI: 10.1111/corg.12371
Evridiki Panayi 1 , Konstantinos Bozos 1 , Gianluca Veronesi 2
Affiliation  

We explore how the interrelations of governance mechanisms (“bundles”) influence a firm's propensity for corporate acquisitions. Focusing on four key internal and external mechanisms, namely, board of directors monitoring, CEO pay incentives, takeover market discipline, and institutional investor monitoring, we use a sample of 1171 completed M&A deals by 799 U.S. firms during the period 1998–2015 to test the Substitution versus Complementarity Hypotheses.

中文翻译:

公司治理“捆绑”与企业收购

我们探讨了治理机制(“捆绑”)的相互关系如何影响公司收购的倾向。围绕董事会监督、CEO薪酬激励、收购市场纪律和机构投资者监督四个关键的内外部机制,我们以799家美国公司在1998-2015年期间完成的1171起并购交易为样本进行测试。在替代互补性假说
更新日期:2021-03-19
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