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- Title
Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies.
- Authors
de Assunção Main, Kamilla Tairine; Brunassi Silva, Vinicius Augusto
- Abstract
This paper investigates the probability of companies to perform Mergers & Acquisitions (M&As) based on the characteristics of the CEO. We use a sample of 794 CEOs of nonfinancial firms, which were listed on the B3 from 2000 to 2017. We adopt a descriptive approach and run logistic regressions to examine the probability of a company performing M&As, given the characteristics of its CEO. We show that CEOs with finance backgrounds are less likely to perform M&As. We find no statistically significant correlations for other CEO's characteristics, such as executive tenure, age, education, participation as chair of the board, previous experience as an entrepreneur or being a shareholder of the acquiring company.
- Subjects
CHAIRMAN of the board; CHIEF executive officers; SIGNIFICANT others; LOGISTIC regression analysis; BUSINESS enterprises
- Publication
Brazilian Business Review (Portuguese Edition), 2021, Vol 18, Issue 4, p371
- ISSN
1807-734X
- Publication type
Article
- DOI
10.15728/bbr.2021.18.4.2