Director networks and takeover activity

Luc Renneboog

Chapter 45 in Elgar Encyclopedia of Mergers and Acquisitions, 2026, pp 118-118 from Edward Elgar Publishing

Abstract: This chapter emphasises the role of director networks in facilitating M&A by improving information flow and reducing information asymmetry. It discusses how common board members between bidding and target firms can expedite negotiations, increase trust, and simplify complex agreements. The chapter highlights how networks influence performance outcomes, such as higher announcement returns and the extent of post-merger executive retention.

Keywords: Networks; Connections; Information transmission; Information asymmetry; Negotiations; Agency problems (search for similar items in EconPapers)
Date: 2026
ISBN: 9781800880856
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