摘要：This study empirically examines the relationship between executive compensation and mergers and acquisitions (MA) behaviors by identifying the influence of short- and long-term incentive on the propensity and scale of MA. When the short-term incentive is insufficient, MA behaviors serve as a beneficial compensation mechanism. Thus, lack of executives’ incentive promotes the propensity to engage in MA and significantly affects the scale of MA. With regard to long-term incentives, MA behaviors serve as a beneficial creation mechanism. Shareholding of executives promotes MA propensity, and does not significantly affect the scale of MA. This study significantly contributes to research in MA behaviors by revealing the beneficial distribution mechanisms of MA behaviors.
