Matches in SemOpenAlex for { <https://semopenalex.org/work/W3209574772> ?p ?o ?g. }
- W3209574772 endingPage "1046" @default.
- W3209574772 startingPage "1007" @default.
- W3209574772 abstract "ABSTRACT This paper studies the long‐term consequences of actions induced by vesting equity, a measure of short‐term incentives. Vesting equity is positively associated with the probability of a firm repurchasing shares, the amount of shares repurchased, and the probability of the firm announcing a merger and acquisition (M&A). However, it is also associated with more negative long‐term returns over two to three years following repurchases and four years following M&A, as well as future M&A goodwill impairment. These results are inconsistent with CEOs buying underpriced stock or companies to maximize long‐run shareholder value, but consistent with these actions being used to boost the short‐term stock price and thus equity sale proceeds. CEOs sell their own stock shortly after using company money to buy the firm's stock, also inconsistent with repurchases being motivated by undervaluation." @default.
- W3209574772 created "2021-11-08" @default.
- W3209574772 creator A5031996018 @default.
- W3209574772 creator A5059132656 @default.
- W3209574772 creator A5063822345 @default.
- W3209574772 date "2021-12-16" @default.
- W3209574772 modified "2023-10-17" @default.
- W3209574772 title "The Long‐Term Consequences of Short‐Term Incentives" @default.
- W3209574772 cites W1902236578 @default.
- W3209574772 cites W1984640356 @default.
- W3209574772 cites W1991552238 @default.
- W3209574772 cites W1998868567 @default.
- W3209574772 cites W2019298298 @default.
- W3209574772 cites W2020255743 @default.
- W3209574772 cites W2022235495 @default.
- W3209574772 cites W2027806049 @default.
- W3209574772 cites W2034372432 @default.
- W3209574772 cites W2056238342 @default.
- W3209574772 cites W2058740981 @default.
- W3209574772 cites W2061859805 @default.
- W3209574772 cites W2063294827 @default.
- W3209574772 cites W2068518527 @default.
- W3209574772 cites W2071511656 @default.
- W3209574772 cites W2100752900 @default.
- W3209574772 cites W2137822226 @default.
- W3209574772 cites W2169645335 @default.
- W3209574772 cites W2313379137 @default.
- W3209574772 cites W2317907514 @default.
- W3209574772 cites W2901107808 @default.
- W3209574772 cites W2903822136 @default.
- W3209574772 cites W2922873601 @default.
- W3209574772 cites W3023139783 @default.
- W3209574772 cites W3121192203 @default.
- W3209574772 cites W3121301314 @default.
- W3209574772 cites W3121628764 @default.
- W3209574772 cites W3121860914 @default.
- W3209574772 cites W3121863305 @default.
- W3209574772 cites W3121908188 @default.
- W3209574772 cites W3122215577 @default.
- W3209574772 cites W3122373579 @default.
- W3209574772 cites W3122450728 @default.
- W3209574772 cites W3122831108 @default.
- W3209574772 cites W3122993843 @default.
- W3209574772 cites W3123140738 @default.
- W3209574772 cites W3123545319 @default.
- W3209574772 cites W3123766169 @default.
- W3209574772 cites W3123865375 @default.
- W3209574772 cites W3124131857 @default.
- W3209574772 cites W3124596305 @default.
- W3209574772 cites W3124620510 @default.
- W3209574772 cites W3124752310 @default.
- W3209574772 cites W3124893575 @default.
- W3209574772 cites W3124907269 @default.
- W3209574772 cites W3125001718 @default.
- W3209574772 cites W3125074990 @default.
- W3209574772 cites W3125232859 @default.
- W3209574772 cites W3125301290 @default.
- W3209574772 cites W3125302922 @default.
- W3209574772 cites W3125378410 @default.
- W3209574772 cites W3125384153 @default.
- W3209574772 cites W3125805996 @default.
- W3209574772 cites W3125941754 @default.
- W3209574772 cites W3164992886 @default.
- W3209574772 cites W4211168477 @default.
- W3209574772 doi "https://doi.org/10.1111/1475-679x.12410" @default.
- W3209574772 hasPublicationYear "2021" @default.
- W3209574772 type Work @default.
- W3209574772 sameAs 3209574772 @default.
- W3209574772 citedByCount "19" @default.
- W3209574772 countsByYear W32095747722019 @default.
- W3209574772 countsByYear W32095747722020 @default.
- W3209574772 countsByYear W32095747722021 @default.
- W3209574772 countsByYear W32095747722022 @default.
- W3209574772 countsByYear W32095747722023 @default.
- W3209574772 crossrefType "journal-article" @default.
- W3209574772 hasAuthorship W3209574772A5031996018 @default.
- W3209574772 hasAuthorship W3209574772A5059132656 @default.
- W3209574772 hasAuthorship W3209574772A5063822345 @default.
- W3209574772 hasBestOaLocation W32095747722 @default.
- W3209574772 hasConcept C10138342 @default.
- W3209574772 hasConcept C106159729 @default.
- W3209574772 hasConcept C120757647 @default.
- W3209574772 hasConcept C121332964 @default.
- W3209574772 hasConcept C127413603 @default.
- W3209574772 hasConcept C13417124 @default.
- W3209574772 hasConcept C142362112 @default.
- W3209574772 hasConcept C143591128 @default.
- W3209574772 hasConcept C143724316 @default.
- W3209574772 hasConcept C144133560 @default.
- W3209574772 hasConcept C148126853 @default.
- W3209574772 hasConcept C151730666 @default.
- W3209574772 hasConcept C153349607 @default.
- W3209574772 hasConcept C162324750 @default.
- W3209574772 hasConcept C175444787 @default.
- W3209574772 hasConcept C17744445 @default.
- W3209574772 hasConcept C199539241 @default.
- W3209574772 hasConcept C199728807 @default.
- W3209574772 hasConcept C204036174 @default.