Structuring the Literature on the Relationships between M&a Deals

The goal of this paper is to provide an integrative framework linking merger and acquisition activities with executive compensation. Making an extensive review of existing studies we aim at shedding more light on current and emerging knowledge in this field of investigation and suggesting directions for future research. A framework is presented which organizes the literature along two dimensions (time period and firm type), identifying three strands of research and five different conceptualizations of the links between M&As and executive compensation. Priorities for future research include an examination of more recent transactions, the diversification of executive compensation components, the analysis in other national contexts and corporate governance environments and the examination of several transactional characteristics’ influence on executive compensation levels and structure.