Abstract

http://ssrn.com/abstract=993855
 
 

References (69)



 
 

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Governance, CEO Power, and Acquisitions


Derek Oler


Texas Tech University - Rawls College of Business

Bradley Olson


University of Lethbridge - Faculty of Management

Christopher J. Skousen


Utah State University - School of Accountancy

September 14, 2009


Abstract:     
We examine whether governance matters for acquisitions. Acquisitions are frequently beneficial to the CEO of the acquiring firm, but can often be value-destructive to acquirer shareholders and other stakeholders such as employees. We find that corporate governance does not appear to influence whether a firm will become an acquirer after controlling for CEO power, but superior governance is associated with greater relatedness between the target and acquirer. We also find that the effect of CEO power on a firm’s acquisition activity varies according to the source of that power. Our results suggest that the relationships between governance, CEO power, and acquisition activity are complex.

Number of Pages in PDF File: 41

Keywords: Governance, CEO Power, Acquisitions

JEL Classification: G34, L20, G24, G31, G32

working papers series


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Date posted: June 22, 2007 ; Last revised: September 18, 2009

Suggested Citation

Oler, Derek and Olson, Bradley and Skousen, Christopher J., Governance, CEO Power, and Acquisitions (September 14, 2009). Available at SSRN: http://ssrn.com/abstract=993855 or http://dx.doi.org/10.2139/ssrn.993855

Contact Information

Derek Oler (Contact Author)
Texas Tech University - Rawls College of Business ( email )
P.O. Box 42101
Lubbock, TX 79409
United States
806-834-2354 (Phone)
806-742-3182 (Fax)
Bradley Olson
University of Lethbridge - Faculty of Management ( email )
Department of Management
4401 University Drive
Lethbridge, Alberta TIK 3M4
Canada
Christopher J. Skousen
Utah State University - School of Accountancy ( email )
College of Business
Logan, UT 84322-3540
United States
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