谨慎但有效：CEO精英教育和并购时间表

IF 6.9 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2025-03-23 DOI:10.1016/j.frl.2025.107268

Xuan-Qi Su (Associate Professor)

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引用次数: 0

摘要

本研究考察了ceo的精英教育如何影响他们完成并购的时间表；一个事务。我分析了台湾公司的并购；研究发现，受过精英教育的ceo，尤其是那些拥有商学硕士或学士学位的ceo，通常需要更长的时间来完成交易。女性和受过精英教育的年长ceo会延长完成任务的时间，而那些之前有过并购经历的ceo；经验或长期任职则不然。值得注意的是，由受过精英教育的首席执行官领导的收购公司在并购后的长期表现更好；当他们在交易完成上投入了额外的时间。我的研究结果支持以预防为重点的假说。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Cautious but effective: CEO elite education and the timeline of mergers and acquisitions

This study examines how CEOs’ elite education affects the timelines for completing M & A transactions. I analyzed Taiwanese firms’ M & A transactions during 2007−2020 and found that elite-educated CEOs, especially those holding master's or bachelor's degrees in business, generally take longer to complete deals. Female and older elite-educated CEOs extend completion timelines, while those with prior M & A experience or extensive tenure do not. Notably, acquiring firms led by elite-educated CEOs achieve better long-term post-M & A performance when they invest additional time in deal completion. My results support the prevention focus hypothesis.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance