Board Connections, Director Retention and Takeovers

Hao Li, Edward Jones

Research output: Contribution to conferencePaper

Abstract

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

Conference

ConferenceBritish Accounting and Finance Association Annual Conference 2016
Abbreviated titleBAFA 2016
CountryUnited Kingdom
CityBath
Period21/03/1623/03/16

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  • Cite this

    Li, H., & Jones, E. (2016). Board Connections, Director Retention and Takeovers. Paper presented at British Accounting and Finance Association Annual Conference 2016, Bath, United Kingdom.