Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/88261
Title: Aggressive CEOs and bank mergers and acquisitions
Authors: Ji, Mingming
Degree: M.Phil.
Issue Date: 2020
Abstract: The U.S. bank industry has seen a series of merger waves since 1980s. Despite of significant interest on determinants of these merger waves, little empirical research has examined the role of CEOs in influencing banks' mergers and acquisitions (M&As). This paper studies the effect of CEOs' aggressive attitude inherited from their countries of origin on bank M&As. CEOs play an important role in M&A deals because they have more involvement in M&As. Using the inter-state war data, I construct a new measure of bank CEOs' innate attitude of aggressiveness derived from their ancestry culture, and CEOs' countries of origin are identified from their surnames. I find that aggressive CEOs are more likely to acquire other banks during 1986 - 2015 period. Robustness tests show that the association still holds when using alternative measures for CEOs' aggressive attitude. Moreover, empirical evidence supports that long-term market perceptions are positively associated with CEOs' aggressive attitude in acquiring banks. It implies that the market values aggressive CEOs in bank M&As. In addition, this paper examines the effects of family environment and individualism culture on the association between CEO's aggressive attitude and bank M&As. The effect of CEOs' aggressive attitude cultivated in their cultural heritage is strengthened by family environment but weakened by individualism culture.
Subjects: Bank mergers¬†¬†
Consolidation and merger of corporations
Chief executive officers
Hong Kong Polytechnic University -- Dissertations
Pages: 42 pages : color illustrations
Appears in Collections:Thesis

Show full item record

Page views

7
Citations as of May 22, 2022

Google ScholarTM

Check


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.