This research investigates the impact of female CEOs on mergers and acquisitions (M&As) in family and nonfamily firms. With a sample of 165 Italian listed companies engaged in M&As from 2011 to 2016, the study explores whether CEO gender impacts on firm’s acquisitiveness in family and nonfamily firms. Findings indicate that having a female CEO is associated with lower acquisitiveness overall. However, this trend is not consistently observed in family firms, challenging conventional assumptions. This research contributes to understanding the nuanced dynamics of female leadership and M&As, shedding light on the role of CEO gender in distinct ownership contexts.
Raoli, E., Magnanelli, B. S., Pirolo, L., Shattering the glass ceiling: Female leadership and acquisitiveness in family and nonfamily firms, <<FINANCE RESEARCH LETTERS>>, 2024; 67 (67): 1-6. [doi:https://doi.org/10.1016/j.frl.2024.105794] [https://hdl.handle.net/10807/292176]
Shattering the glass ceiling: Female leadership and acquisitiveness in family and nonfamily firms
Raoli, Elisa
;Magnanelli, Barbara Sveva;
2024
Abstract
This research investigates the impact of female CEOs on mergers and acquisitions (M&As) in family and nonfamily firms. With a sample of 165 Italian listed companies engaged in M&As from 2011 to 2016, the study explores whether CEO gender impacts on firm’s acquisitiveness in family and nonfamily firms. Findings indicate that having a female CEO is associated with lower acquisitiveness overall. However, this trend is not consistently observed in family firms, challenging conventional assumptions. This research contributes to understanding the nuanced dynamics of female leadership and M&As, shedding light on the role of CEO gender in distinct ownership contexts.
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