MARC Record from Library of Congress

LEADER: 01996cam a22003017a 4500
001 2007615235
003 DLC
005 20070403090156.0
007 cr |||||||||||
008 070402s2006 gau sb f000 0 eng
010 $a 2007615235
040 $aDLC$cDLC
050 00 $aHB1
100 1 $aBrewer, Elijah.
245 10 $aWhen target CEOs contract with acquirers$h[electronic resource] :$bevidence from bank mergers and acquisitions /$cElijah Brewer III, William E. Jackson III, and Larry D. Wall.
260 $a[Atlanta, Ga.] :$bFederal Reserve Bank of Atlanta,$c[2006]
490 1 $aWorking paper series / Federal Reserve Bank of Atlanta ;$v2006-28
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 4/2/2007.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"This paper investigates the impact of the target chief executive officer's (CEO) postmerger position on the purchase premium and target shareholders' abnormal returns around the announcement of the deal in a sample of bank mergers during the period 1990-2004. We find evidence that the target shareholders' returns are negatively related to the postmerger position of their CEO. However, these lower returns are not matched by higher returns to the acquirer's shareholders, suggesting little or no wealth transfers. Additionally, our evidence suggests that the target CEO becoming a senior officer of the combined firm does not boost the overall value of the merger transaction"--Federal Reserve Bank of Atlanta web site.
653 $aMerger;$aacquisition;$atarget CEO;$acorporate governance
700 1 $aJackson, William E.
710 2 $aFederal Reserve Bank of Atlanta.
830 0 $aWorking paper series (Federal Reserve Bank of Atlanta : Online) ;$v2006-28.
856 40 $uhttp://www.frbatlanta.org/invoke.cfm?objectid=7C795DE6-5056-9F12-129AE186116958F3&method=display