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Author: Virginia Bodolica
Publisher: Routledge
ISBN: 1317624319
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
Over the past decades, the total value of executive compensation packages has been rising dramatically, contributing to a wider pay gap between the chief executive officer and the average worker. In the midst of the financial turmoil that brought about a massive wave of corporate failures, the lavish executive compensation package has come under an intense spotlight. Public pressure has mounted to revise the levels and the structure of executive pay in a way that will tie more closely the executive wealth to that of shareholders. Merger and acquisition (M&A) activities represent an opportune setting for gauging whether shareholder value creation or managerial opportunism guides executive compensation. M&As constitute major examples of high-profile events prompted by managers who typically conceive them as a means for achieving higher levels of pay, even though they are frequently associated with disappointing returns to acquiring shareholders. Mergers and Acquisitions and Executive Compensation reviews the existing empirical evidence and provides an integrative framework for the growing body of literature that is situated at the intersection of two highly debated topics: M&A activities and executive compensation. The proposed framework structures the literature along two dimensions, such as M&A phases and firm’s role in a M&A deal, allowing readers to identify three main streams of research and five different conceptualizations of causal relationships between M&A transactions and executive compensation. The book makes a comprehensive review of empirical studies conducted to date, aiming to shed more light on the current and emerging knowledge in this field of investigation, discuss the inconsistencies encountered within each stream of research, and suggest promising directions for further exploration. This book will appeal to researchers and students alike in the fields of organizational behavior and governance as well as accounting and accountability.
Author: Virginia Bodolica
Publisher: Routledge
ISBN: 1317624319
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
Over the past decades, the total value of executive compensation packages has been rising dramatically, contributing to a wider pay gap between the chief executive officer and the average worker. In the midst of the financial turmoil that brought about a massive wave of corporate failures, the lavish executive compensation package has come under an intense spotlight. Public pressure has mounted to revise the levels and the structure of executive pay in a way that will tie more closely the executive wealth to that of shareholders. Merger and acquisition (M&A) activities represent an opportune setting for gauging whether shareholder value creation or managerial opportunism guides executive compensation. M&As constitute major examples of high-profile events prompted by managers who typically conceive them as a means for achieving higher levels of pay, even though they are frequently associated with disappointing returns to acquiring shareholders. Mergers and Acquisitions and Executive Compensation reviews the existing empirical evidence and provides an integrative framework for the growing body of literature that is situated at the intersection of two highly debated topics: M&A activities and executive compensation. The proposed framework structures the literature along two dimensions, such as M&A phases and firm’s role in a M&A deal, allowing readers to identify three main streams of research and five different conceptualizations of causal relationships between M&A transactions and executive compensation. The book makes a comprehensive review of empirical studies conducted to date, aiming to shed more light on the current and emerging knowledge in this field of investigation, discuss the inconsistencies encountered within each stream of research, and suggest promising directions for further exploration. This book will appeal to researchers and students alike in the fields of organizational behavior and governance as well as accounting and accountability.
Author: Ilene H. Ferenczy
Publisher: Wolters Kluwer
ISBN: 1454862238
Category : Law
Languages : en
Pages : 1080
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Book Description
Fully-updated to reflect the latest legislation, regulation, and IRS and DOL guidance, the 2015 -2016 Edition of Employee Benefits in Mergers and Acquisitions is designed for both benefits experts who have little experience with mergers and acquisitions issues and mergers and acquisitions specialists who have little background in benefits administration. Comprehensive, yet easy-to-use, it provides the expert guidance you need to help ensure legal and tax compliance--and avoid costly litigation and penalties--as you work to integrate and administer the employee benefits programs of two or more companies. Written by recognized authority Ilene H. Ferenczy, and a team of noted experts, Employee Benefits in Mergers and Acquisitions, 2015-2016 Edition has been updated to include: The current status of the Patient Protection and Affordable Care Act (PPACA) on plans involved in business transactions, including information regarding new reporting requirements in relation to health plans Discussion of the plan fiduciary's responsibilities in relation to the service provider and participant fee disclosures The PPACA-mandated IRS and DOL guidance and its effect on plan administration and issues in mergers and acquisitions The latest Supreme Court opinion relating to employee stock ownership plans (ESOPs) and the elimination of the Moench presumption of prudence in purchasing employer securities Expansion of the chapter on executive compensation to include discussions relating to initial public offerings, stock-based compensation for insiders of expatriated corporations, and the Dodd-Frank Act And much more!
Author: Sourafel Girma
Publisher:
ISBN:
Category : Consolidation and merger of corporations
Languages : en
Pages : 40
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Book Description
Author: Ilene Ferenczy
Publisher: Wolters Kluwer
ISBN: 145480839X
Category : Law
Languages : en
Pages : 746
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Book Description
Employee Benefits in Mergers and Acquisitions is an essential tool to assistboth benefits specialists and mergers and acquisitions professionals examineevery major employee benefits concern likely to arise in the wake of a mergeror an acquisition, including:Legal and tax compliance issuesStrategies to avoid costly litigationSound and reliable business practices for administering benefits andcompensation plans in a M&A settingAnd much more!The 2012 -2013 Edition updates the coverage of legislative and regulatorydevelopments in the past year that affect employee benefits in mergers andacquisitions, including:The effects of the Pension Protection Act of 2006 (PPA), the Heroes EarningsAssistance and Relief Tax Act of 2008 (HEART), the Worker, Retiree, andEmployer Recovery Act of 2008 (WRERA), and the Patient Protection andAffordable Care Act (PPACA) on plans involved in business transactionsDiscussion of the plan fiduciaries' responsibilities in relation to theservice provider fee disclosureThe PPA-mandated IRS and DOL guidance and its effect on plan administrationand issues in mergers and acquisitionsThe final regulations under Code Section 415 on maximum benefits andincludible plan compensationInformation regarding the final IRS regulations concerning 401(k) automaticenrollmentThe latest guidance relating to the American Jobs Creation Act of 2004 onnonqualified deferred compensation and other executive compensationComprehensive modifications to the Internal Revenue Code sections relating to401(k) plans to reflect the guidance relating to Roth 401(k) provisionsAnd much more!
Author: Ferenczy
Publisher: Wolters Kluwer Law & Business
ISBN: 1543880509
Category :
Languages : en
Pages : 860
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Ilene H. Ferenczy
Publisher: Aspen Law & Business
ISBN: 9780735573741
Category : Business & Economics
Languages : en
Pages : 638
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Book Description
Employee Benefits in Mergers and Acquisitions is an essential tool in assisting both benefits and M&A professionals in handling complicated issues that are likely to arise in the wake of a merger or acquisition. it includes legal and tax compliance issues, strategies to avoid costly litigation, and the soundest business practices for administering benefits and compensation plans in a merger and acquisition setting. The 2008–2009 Edition has been updated to include coverage of legislative and regulatory developments in the past year that affect employee benefits in mergers and acquisitions, including: The effects of the Pension Protection Act of 2006 (PPA) on plans involved in business transactions The impact of the PPA-mandated IRS and DOL guidance and its effect on plan administration and issues in mergers and acquisitions The impact of new final regulations under Code Section 415 on maximum benefits and includible plan compensation The impact of 2007 and 2008 guidance relating To The American Jobs Creation Act of 2004 on nonqualified deferred compensation and other executive compensation Comprehensive modifications To The Internal Revenue Code sections relating to 401(k) plans to reflect the guidance relating to Roth 401(k) provisions Litigation relating to cash balance plans, The prospective resolution of the issues in the PPA, And The outstanding controversies still surrounding such plans Ever-developing changes to employer and fiduciary liability in relation to employer securities in plans, including employee stock ownership plans, and the impact of new DOL guidance regarding directed trustee liability, And The impact of the PPA on fiduciary rules Changes in defined benefit funding considerations, particularly in light of the PPA New rules relating to keeping qualified plans up to date with changes in the law and to submitting such plans for IRS review Discussion of fiduciary responsibility in general, particularly in light of the post-Enron litigation
Author: Lucian A. Bebchuk
Publisher: Harvard University Press
ISBN: 9780674020634
Category : Business & Economics
Languages : en
Pages : 308
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Book Description
The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Author: Robert DeYoung
Publisher: DIANE Publishing
ISBN: 1437931006
Category : Business & Economics
Languages : en
Pages : 57
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Book Description
This study examines whether and how the terms of CEO compensation contracts at large commercial banks between 1994 and 2006 influenced, or were influenced by, the risky business policy decisions made by these firms. The authors find strong evidence that bank CEOs responded to contractual risk-taking incentives by taking more risk; bank boards altered CEO compensation to encourage executives to exploit new growth opportunities; and bank boards set CEO incentives in a manner designed to moderate excessive risk-taking. These relationships are strongest during the second half of the author¿s sample, after deregulation and technological change had expanded banks' capacities for risk-taking. Charts and tables.
Author: Benjamin Hermalin
Publisher: Elsevier
ISBN: 0444635408
Category : Business & Economics
Languages : en
Pages : 762
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Book Description
The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. Concentrates on underlying principles that change little, even as the empirical literature moves on Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward
