Anmerkungen:
In: Finance Research Letters, Vol. 55, 2023
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 23, 2023 erstellt
Beschreibung:
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 market favors local acquisitions made by extraverted CEOs. Our results support the notion that the extended and information-rich, local networks of extraverted CEOs as well as the agentic qualities of these CEOs facilitate the acquisition of local target firms. Our results are important in illuminating the channels through which extraverted CEOs make acquisitions and create value