CEO Turnover after Acquisitions: Are Bad Bidders Fired?

By K. Lehn, Mengxin Zhao. 2006

392 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/66e403bed4c7ed2b78ace7272e87a922fcd1f668

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Citations in the corpus

Corporate Leverage: How Much Do Managers Really Matter? (2007, positive): “In classifying these changes, we follow the criteria described in (Fee and Hadlock, 2004; Parrino, 1997; 8 Huson et al., 2001; Lehn and Zhao, 2006; Kaplan and Minton, 2006; Bhagat and Bolton, 2006).”
The Pre-Deal Phase of Mergers and Acquisitions: A Review and Research Agenda (2020, background): “…deals make since negative public perception and highly negative stock market reactions at the time of the M&A announcement could jeopardize the endorsement of key stakeholders, threatening the likelihood of deal closure and the successful implementation of the deal (Lehn & Zhao, 2006; Luo, 2005).”
Exploring the Nexus Between Human Capital, Corporate Governance and Performance: Evidence from Islamic Banks (2017, positive): “The prior research on corporate governance suggests that the board's monitoring efficiency is enhanced when the CEO has limited power in influencing the board's agendas and actions (Lehn and Zhao, 2006).”
Management Forecast Quality and Capital Investment Decisions (2014, positive): “This view is supported by prior research (Lehn and Zhao 2006), which shows that the acquirer’s manager experiences elevated turnover probabilities following poor acquisitions.”
Overpriced Shares, Ill-Advised Acquisitions, and Goodwill Impairment (2011, neutral): “Li et al. (2005) document that write-offs are more likely in overpayment of target cases (different from the overvaluation of bidders which we investigate) and when the post acquisition returns of buyers are negative.”
Learning, Hubris and Corporate Serial Acquisitions (2009, positive): “As shown in Mitchell and Lehn (1990) and Lehn and Zhao (2006), potential dismissal is a real risk in practice.”
A century of corporate takeovers: What have we learned and where do we stand? (2008, neutral): “…Private +1.38a +0.15a +1.45a -1.02a +1.49a Fuller, Netter and Stegemoller (2002), US 1990-00 MAM (-2, +2) 456 2060 Public Private -1.00b +2.08a Lehn and Zhao (2006), US 1990-98 MM (-5, +40) 61 98 CEO turn CEO stay -7.03a +0.28 Bouwman, Fuller and Nain (2003), US 1979-98 MAM (-1, +1) 222 6 40…”