Pacific-Basin Finance Journal ( IF 3.239 ) Pub Date : 2021-06-24 , DOI: 10.1016/j.pacfin.2021.101600 Ryley Lucas , Abeyratna Gunasekarage , Syed Shams , Piyadasa Edirisuriya
This study investigates the influence of female directors on the acquisition decisions of Australian companies. We use a dual approach, conducting empirical analyses while exploring the views of industry experts with extensive acquisition experience. We find that the market perceives acquisitions conducted by acquirers with female board members to be valuecreating decisions. Industry experts believe that female directors apply a broader perspective in evaluating acquisitions without falling into the ‘deal frenzy’ trap, a common occurrence in male directors. Several female directorship traits, combined with enhanced efficiency, contribute to tangible benefits offered by female directors in acquisitions.
中文翻译:
女性董事和收购:澳大利亚证据
本研究调查了女性董事对澳大利亚公司收购决策的影响。我们采用双重方法,在探索具有丰富收购经验的行业专家的观点的同时进行实证分析。我们发现,市场认为由拥有女性董事会成员的收购方进行的收购是创造价值的决策。行业专家认为,女性董事在评估收购时应用更广泛的视角,而不会陷入“交易狂潮”;陷阱,在男导演中屡见不鲜。女性董事的几个特征,加上效率的提高,有助于女性董事在收购中提供切实的好处。