The compensation system is a way to mitigate agency conflicts, aligning the interests of executives and shareholders. A type of corporate governance mechanism for managerial compensation is Golden Parachutes (GP), which benefits executives and, consequently, generates gains for companies in the acquisition process. This research aims to analyze the influence of GPs on the performance and liquidity of American publicly traded acquiring companies that participated in acquisition processes, using the Difference-in-Differences (DID) method. The estimation of the DID model indicates statistically significant differences in the results, showing an increase in the liquidity and performance of acquiring companies that used the Golden Parachutes mechanism in the process. The study points out that these clauses reduce informational asymmetries and agency problems, improving companies' performance in the post-acquisition phase.
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