Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies
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 regressio...
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| Format: | Article |
| Language: | English |
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FUCAPE Business School
2021-01-01
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| Series: | BBR: Brazilian Business Review |
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| Online Access: | http://www.redalyc.org/articulo.oa?id=123069068002 |
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| _version_ | 1825207259425144832 |
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| author | Kamilla Tairine de Assunção Main Vinicius Augusto Brunassi Silva |
| author_facet | Kamilla Tairine de Assunção Main Vinicius Augusto Brunassi Silva |
| author_sort | Kamilla Tairine de Assunção Main |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-5936e77af8f241f4bd4d6b5b3cb4121f |
| institution | Kabale University |
| issn | 1807-734X |
| language | English |
| publishDate | 2021-01-01 |
| publisher | FUCAPE Business School |
| record_format | Article |
| series | BBR: Brazilian Business Review |
| spelling | doaj-art-5936e77af8f241f4bd4d6b5b3cb4121f2025-02-06T23:39:33ZengFUCAPE Business SchoolBBR: Brazilian Business Review1807-734X2021-01-0118437139610.15728/bbr.2021.18.4.2Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companiesKamilla Tairine de Assunção MainVinicius Augusto Brunassi SilvaThis 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.http://www.redalyc.org/articulo.oa?id=123069068002mergers and acquisitions (m&a)characteristicsceos |
| spellingShingle | Kamilla Tairine de Assunção Main Vinicius Augusto Brunassi Silva Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies BBR: Brazilian Business Review mergers and acquisitions (m&a) characteristics ceos |
| title | Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies |
| title_full | Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies |
| title_fullStr | Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies |
| title_full_unstemmed | Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies |
| title_short | Relations between CEO characteristics and mergers and acquisition decisions in Brazilian companies |
| title_sort | relations between ceo characteristics and mergers and acquisition decisions in brazilian companies |
| topic | mergers and acquisitions (m&a) characteristics ceos |
| url | http://www.redalyc.org/articulo.oa?id=123069068002 |
| work_keys_str_mv | AT kamillatairinedeassuncaomain relationsbetweenceocharacteristicsandmergersandacquisitiondecisionsinbraziliancompanies AT viniciusaugustobrunassisilva relationsbetweenceocharacteristicsandmergersandacquisitiondecisionsinbraziliancompanies |