Board Connections, Director Retention and Takeovers

Hao Li, Edward Jones

Research output: Contribution to conferencePaperpeer-review


The purpose of this paper is to examine the impact of board connection and retention on takeover characteristics. Using UK data from 1999-2015, we document that board connection when a takeover is announced and target board retention after the deal is completed are related with various takeover characteristics. More specifically, board connection and retention leads to a lower final offer price change and lower cash payment. We also find that board connection is positively related with the probability of target director retention.
Original languageEnglish
Publication statusUnpublished - 2016
EventBritish Accounting and Finance Association Annual Conference 2016 - University of Bath, Bath, United Kingdom
Duration: 21 Mar 201623 Mar 2016


ConferenceBritish Accounting and Finance Association Annual Conference 2016
Abbreviated titleBAFA 2016
Country/TerritoryUnited Kingdom


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