Cautious but effective: CEO elite education and the timeline of mergers and acquisitions

Xuan-Qi Su

Finance Research Letters, 2025, vol. 79, issue C

Abstract: This study examines how CEOs’ elite education affects the timelines for completing M & A transactions. I analyzed Taiwanese firms’ M & A transactions during 2007−2020 and found that elite-educated CEOs, especially those holding master's or bachelor's degrees in business, generally take longer to complete deals. Female and older elite-educated CEOs extend completion timelines, while those with prior M & A experience or extensive tenure do not. Notably, acquiring firms led by elite-educated CEOs achieve better long-term post-M & A performance when they invest additional time in deal completion. My results support the prevention focus hypothesis.

Keywords: Mergers & acquisitions; Elite education; Completion Time; Prevention focus (search for similar items in EconPapers)
JEL-codes: G14 G32 G34 I25 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005318

DOI: 10.1016/j.frl.2025.107268

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