Growing globalization has created a business environment that encourages companies to internationalize through international acquisitions. The growth in the number and value of international acquisitions in the previous period has increased the number of studies that analyze this phenomenon from...

Using a novel Hungarian dataset on firms and their Chief Executive Officers (CEOs), we estimate the impact of hiring expatriate CEOs. By examining foreign acquisitions where the new owner replaces the incumbent CEO with an expatriate or a local CEO, we address the selection into both acquisition...