We examine the relation between CEOs political ideology and their firms' investment
decisions, particularly their M&A decisions. Employing individual financial contributions data …

This paper examines the effect of M&A compensation commitment on stock price crash risk
using the setting of Chinese M&As that committed performance has been achieved during …

We present evidence that earnout agreements in acquisition contracts provide a substantial
source of financing for acquirers. Acquirers in transactions with earnouts are significantly …

This paper contributes to the growing literature on the effect of religion on corporate decision
making. We posit that contingent payment in mergers and acquisitions not only violates …

This paper quantitatively studies the incentives of the sponsors of Special Purpose
Acquisition Companies (SPACs) and their impact on SPAC investor welfare. We estimate a …

This paper investigates how performance commitment clauses in mergers and acquisitions
(M&As) influence the corporate liquidity of acquiring firms. Using a comprehensive dataset of …

Defining the deal value in mergers and acquisitions is inherently complex and often
constitutes an inflection point for the parties involved. By paying part of the deal value at a …

We find that performance commitment provisions in Chinese acquisitions show positive
economic outcomes measured by improved abnormal returns and lower market crash risk …

When private firms are acquired, buyers commonly rely on seller financing and earnouts.
Using a novel database of private acquisitions, I find that seller financing and earnouts …

This article examines the impact of earnout financing on the value of acquiring firms
engaged in cross-border acquisitions (CBAs), using a dataset of UK, US, Canadian and …