Mergers, motivation and directors' remuneration

Using small matched samples of companies which are, and are not, highly involved in acquisition in the period 1986-90, an investigation is mounted to ascertain whether "acquisitiveness" has any impact upon the remuneration of the top directors over and above what one would expect because of the growth in "size". The evidence suggests it does, if returns to share options are included in the measure of remuneration.