The animated discourse on corporate social responsibility towards stakeholders in the last two years, particularly as embodied through the terms ESG, corporate purpose and stakeholderism (which will be used in this article interchangeably) had reached a turning point even before the COVID-19...

We examine the role of cultural heritage in shaping U.S. CEOs' attitudes toward uncertainty, in the context of their corporate acquisition decisions. We find that CEOs with a more uncertainty-avoiding cultural heritage are less likely to engage in acquisitions. Conditional on making an...

We hypothesize there is an increased noise demand for stocks of acquirers in response to acquisition announcements and that the demand is greater for acquirers with higher uncertainty in their equity valuation. Using idiosyncratic volatility to measure uncertainty, we find support for limits of...

Purpose – The purpose of this paper is to investigate the role of CEO narcissism in corporate acquisitions with a focus on frequency and size and furthermore to examine the subsequent stock market reaction.Design/methodology/design – The authors investigate 751 acquisitions made by 158 UK...

This study examines whether the content of firms' Security Exchange Commission (SEC) filings submitted for their merger and acquisition transactions are affected by investor reactions to the initial public announcement of the deals. This research design allows us to test the investor feedback...

We investigate the relationship between CEO extraversion and the geographical dispersion of acquisitions within the U.S. The dispersion decision is important and has implications for employment, investments, and valuation. We show that extraverted CEOs prefer local deals and that the stock...

We examine the impact of CEOs’ ethnic cultural identity (ECI) on cross-border acquisitions. Regardless of the immigration time of CEOs’ ancestors to the US, acquirers are more likely to bid for a target in their CEOs’ ancestry country of origin. The CEO ECI does not significantly affect...

We analyze acquisition decisions and the interactions between acquirer and credit rating agencies using credit reviews. We show that acquisitions are more likely to be withdrawn if the firm’s rating is placed on review for downgrade. Focusing on completed acquisitions, deals associated with...