Creat membership Creat membership
Sign in

Forgot password?

Confirm
  • Forgot password?
    Sign Up
  • Confirm
    Sign In
Creat membership Creat membership
Sign in

Forgot password?

Confirm
  • Forgot password?
    Sign Up
  • Confirm
    Sign In
Collection
For ¥0.57 per day, unlimited downloads CREATE MEMBERSHIP Download

toTop

If you have any feedback, Please follow the official account to submit feedback.

Turn on your phone and scan

home > search >

CEO social status and M&A decision making

Author:
Plaksina, Yulia   Gallagher, Liam   Dowling, Michael   


Journal:
International Review of Financial Analysis


Issue Date:
2019


Abstract(summary):

Our study demonstrates the impact of CEO ascribed and achieved social status on M&A decision making and shows the firm value consequences from acquisition deals announced by executives with various status levels. Both ascribed (measured through prestigious education) and achieved (measured through receiving awards) social status are shown to be associated with reduced M&A activity and the effect is strongest among executives who possess both status types simultaneously. However, while the influence of ascribed status is permanent, higher achieved status reduces CEO acquisitiveness only in the immediate aftermath of receiving this status boost. Furthermore, while ascribed status has no significant impact on immediate announcement returns, possessing high achieved social status results in significant value destruction around deal announcements.


VIEW PDF

The preview is over

If you wish to continue, please create your membership or download this.

Create Membership

Similar Literature

Submit Feedback

This function is a member function, members do not limit the number of downloads