Frijns, Bart; Gilbert, Aaron; Lehnert, Thorsten; … - In: Journal of Banking & Finance 37 (2013) 7, pp. 2457-2471
In this paper, we examine the role of national culture in corporate takeover decisions, by arguing that managerial risk tolerance (a combination of risk aversion and risk perception), at the national level, is a cultural trait and affects the expected net synergies CEOs require. We propose a...