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The retention of CEOs that make poor acquisitions |
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| Authors: | Carolyn Carroll John M Griffith |
| Institution: | (1) College of Commerce and Business Administration, University of Alabama, Tuscaloosa, AL, USA;(2) College of Business and Public Administration, Old Dominion University, Norfolk, VA 23529, USA |
| Abstract: | Does the failure to replace CEOs following a bad takeover represent a cost-effective strategy or a failure of boards of directors and the market? We study 104 white knight contests to examine why poorly performing firms retain their CEOs. We find the majority are poor performers before they enter the control contest (q? |
| Keywords: | White knights Tobin’ s q CEOs |
| 本文献已被 SpringerLink 等数据库收录！ | |