Journal article
Choice of acquisition form in Australia and the post-takeover employment of target firm directors on the acquiring firm board
Accounting & Finance, Vol.59(4), pp.2235-2271
2017
Abstract
In Australia, a corporate acquisition can be structured as either a scheme of arrangement or a takeover. We investigate the association between deal structure and the retention of target directors on the merged entity board. We find that the odds of a target director subsequently sitting on the merged entity's board are significantly higher in schemes. The results also show that premiums are lower in schemes of arrangement when additional target directors are appointed to the board of the acquiring firm. The findings indicate that target director appointment is unrelated to the merged entity's post-acquisition performance.
Details
- Title
- Choice of acquisition form in Australia and the post-takeover employment of target firm directors on the acquiring firm board
- Authors/Creators
- M. Bugeja (Author/Creator) - University of Technology SydneyR. da Silva Rosa (Author/Creator) - The University of Western AustraliaH.Y. Izan (Author/Creator) - The University of Western AustraliaS. Ngan (Author/Creator) - Murdoch University
- Publication Details
- Accounting & Finance, Vol.59(4), pp.2235-2271
- Publisher
- Blackwell Publishing
- Identifiers
- 991005540785207891
- Copyright
- © 2017 AFAANZ.
- Murdoch Affiliation
- School of Business and Governance
- Language
- English
- Resource Type
- Journal article
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InCites Highlights
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- Collaboration types
- Domestic collaboration
- Citation topics
- 6 Social Sciences
- 6.10 Economics
- 6.10.63 Corporate Governance
- Web Of Science research areas
- Business, Finance
- ESI research areas
- Economics & Business