Dr Carol Padgett

'Dr Carol Padgett

Dr Carol Padgett

  • Associate Professor in Finance
  • Head of Undergraduate Programmes, Henley Business School
  • Programme Director: MSc Corporate Finance

Contact details

Profile & Expertise

Carol has worked at the ICMA Centre since 1998. During that time she has held a variety of roles and is currently the Programme Director of the MSc in Corporate Finance as well as the Head of Undergraduate Programmes for the Henley Business School. Her teaching and research interests are in Corporate Finance and Governance, and she has supervised both PhD and DBA students in these fields. Carol has been a Senior Fellow of the Higher Education Academy since 2016.

 

Specialisms

  • Corporate Finance
  • Corporate Governance

Key publications, books, research & papers

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Article

Corporate governance, bank mergers and executive compensation

Liu, Y., Padgett, C. and Varotto, S. (2017) Corporate governance, bank mergers and executive compensation. International Journal of Finance & Economics, 22 (1). pp. 12-29. ISSN 1099-1158 doi: https://doi.org/10.1002/ijfe.1565

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Using a sample of US bank mergers from 1995 to 2012, we observe that the pre-post merger changes in CEO bonus are significantly negatively related to the strength of corporate governance within the bidding bank. This suggests that bonus compensation is not consistent with the “optimal contracting hypothesis”. Salary changes, on the other hand, are not affected by corporate governance which is in line with “optimal contracting”. We also find that good governance is associated with more accretive deals for the bidder. Overall, our results are consistent with the notion that, unlike salary and long-term compensation, bonus compensation is not aligned with value creation and is more vulnerable to CEO manipulation in banks with poor corporate governance.

Dr Carol Padgett

Dr Carol Padgett

Head of Undergraduate Programmes, Henley Business School, Programme Director: MSc Corporate Finance

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Dr Simone Varotto

Dr Simone Varotto

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Book or Report Section

Corporate governance and supervision: from Basel II to Basel III

Padgett, C. (2013) Corporate governance and supervision: from Basel II to Basel III. In: Archer, S. and Abdel Karim, F. (eds.) Islamic finance: the new regulatory challenge. Wiley, Singapore, pp. 401-414. ISBN 9781118247044

Dr Carol Padgett

Dr Carol Padgett

Head of Undergraduate Programmes, Henley Business School, Programme Director: MSc Corporate Finance

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Book

Corporate governance: theory and practice

Padgett, C. (2011) Corporate governance: theory and practice. Palgrave Macmillan, Basingstoke, pp240. ISBN 9780230229990

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Dr Carol Padgett

Dr Carol Padgett

Head of Undergraduate Programmes, Henley Business School, Programme Director: MSc Corporate Finance

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Article

Operating performance and its relationship to market performance of Chinese initial public offerings

Chi, J. and Padgett, C. (2006) Operating performance and its relationship to market performance of Chinese initial public offerings. Chinese Economy, 39 (5). pp. 28-50. ISSN 1097-1475 doi: https://doi.org/10.2753/CES1097-1475390502

Dr Carol Padgett

Dr Carol Padgett

Head of Undergraduate Programmes, Henley Business School, Programme Director: MSc Corporate Finance

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Article

The performance and long-run characteristics of the Chinese IPO market

Chi, J. and Padgett, C. (2005) The performance and long-run characteristics of the Chinese IPO market. Pacific Economic Review, 10 (4). pp. 451-469. ISSN 1361-374X doi: https://doi.org/10.1111/j.1468-0106.2005.00285.x

Dr Carol Padgett

Dr Carol Padgett

Head of Undergraduate Programmes, Henley Business School, Programme Director: MSc Corporate Finance

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Article

Short-run underpricing and its characteristics in Chinese initial public offering (IPO) markets

Chi, J. and Padgett, C. (2005) Short-run underpricing and its characteristics in Chinese initial public offering (IPO) markets. Research in International Business and Finance, 19 (1). pp. 71-93. ISSN 0275-5319 doi: https://doi.org/10.1016/j.ribaf.2004.10.004

Dr Carol Padgett

Dr Carol Padgett

Head of Undergraduate Programmes, Henley Business School, Programme Director: MSc Corporate Finance

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Events

Our faculty regularly attend a wide range of events across the globe to share their research and expertise, as well as meeting new students. Use the map below to find past and upcoming events in your region.

Taught modules

Mergers and Acquisitions

The objective of the module is to introduce students to the technical and practical aspects of Mergers and Acquisitions. It focuses on several corporate valuation methods, how to identify and value synergies as well as the financing process of an acquisition. Selected case studies will help students…

The objective of the module is to introduce students to the technical and practical aspects of Mergers and Acquisitions. It focuses on several corporate valuation methods, how to identify and value synergies as well as the financing process of an acquisition. Selected case studies will help students…

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Corporate Finance (BSc)

The main aim of the module is to provide a rigorous grounding of the theory and practice of corporate finance and more specifically the long-term managerial decisions associated with investments, financing and payout and how they affect the value of the firm. It deals with how corporations are…

The main aim of the module is to provide a rigorous grounding of the theory and practice of corporate finance and more specifically the long-term managerial decisions associated with investments, financing and payout and how they affect the value of the firm. It deals with how corporations are…

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News & Media Appearances

Our faculty feature in radio, tv and newspaper segments across the globe using their research and expertise to comment on current events. Find the latest media appearances using the filters below.

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