The purpose of the study is to extend further from the result studying overconfidence effects of CEOs on single deal of Malmendier and Tate (2008)’s article to study overconfidence effects of CEOs on multiple mergers and acquisitions. Based on the psychological and financial theories, the likelihood of overconfident CEOs acquiring a company is the net effect of two manifestations of overconfide...

Mergers and acquisitions are highly prevailing, influential and risky corporate events. The bulk of the literature relating to M&As focus on economic, financial and strategic factors behind these practices and financial performance is taken to be the most common determinant of M&A success. Nevertheless, increasingly the success of organizational combinations has been measured by the reactions o...

M&As (mergers and acquisitions of companies) are motivated by and often result in gains for the acquirer. However, it remains uncertain whether the economy overall benefits from them. For example, if a combined entity gains a stronger hold in the market and raises selling prices, customers will lose out. If restructuring efforts lead to wage cuts, it will be employees that bear the burden. “Goo...

The model and related empirical examination in this paper demonstrate one reason why previous studies document both positive and negative correlations between exchange rate volatility and observed levels of foreign direct investment. Using a simple model of cross-border mergers and acquisitions, it argues that the source of the volatility is important in resolving the puzzle. An empirical analy...

The processes involved with mergers and acquisitions (M&As) are many, varied complex. M&A research practice needs a toolset that can apprehend complexity suggest ways forward. This paper shows the of constituents organizations at strategic level by building on natural-resource-based view (NRBV) resulting competences capabilities. In M&As, these resources capabilities managed through...