Top Management Team Heterogeneity and the Performance of Cross-Border M&A

Yingna Wu, Liang Ding, Xuan Song and Jun Chen

SAGE Open, 2023, vol. 13, issue 2, 21582440231182649

Abstract: In this paper, we aim to investigate the impact of the top management team (TMT) on the performance of cross-border M&A, using a sample of 270 cross-border M&A events of Chinese listed companies. We find that the heterogeneity of TMT characteristics could affect the performance of cross-border M&A in different ways. More specifically, a higher heterogeneity in gender can improve the M&A performance significantly, while more heterogeneities in tenure and overseas background lead to a significant reduction in long-term and short-term M&A performances, respectively. We believe that our study can contribute to a different perspective for the selection of the executive teams of M&A companies. This, in turn, is conducive to optimizing the structure of the senior management team, and may help companies make better decisions and improve their performance.

Keywords: top management team; cross-border M&A; education heterogeneity; gender heterogeneity; overseas experience heterogeneity; tenure heterogeneity (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/21582440231182649 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:sagope:v:13:y:2023:i:2:p:21582440231182649

DOI: 10.1177/21582440231182649

Access Statistics for this article

More articles in SAGE Open
Bibliographic data for series maintained by SAGE Publications ().