Lisa Litzinger

Research consistently shows that when target CEOs receive extra benefits during mergers, takeover premiums are lower. According to Eliezer Fich, PhD, professor of finance in Drexel University’s LeBow College of Business, this is often interpreted as a conflict of interest: target CEOs sacrifice premiums for personal gain, facilitating a wealth transfer from target to acquirer shareholders.

Drexel University’s LeBow College of Business has named Richard J. Green, chairman and CEO of Firstrust Bank, as its 2017 Business Leader of the Year. Green will be honored at a luncheon celebrating his achievements on April 20 from noon to 1:30 p.m. at the Hyatt at The Bellevue.