The Effect of Golden Parachutes on Shareholder Wealth and Takeover Probabilities
研究公司采用金色降落伞是否增加股东财富和收购概率，发现采用后收购概率未提高，股东财富反而下降。
This study seeks to determine whether stockholders experience increases in wealth due to a company's adoption of a golden parachute and resulting increased takeover bid probability. Market reaction to golden parachute adoption is examined by employing event analysis, logit analysis and metric regression. Our findings indicate that the adoption of a golden parachute does not signify an increased probability of a takeover bid, and stockholders experience a decrease in wealth.