Top Management Team Heterogeneity and the Performance of Cross-Border MA

Bibliographic Data

ID4181880
AuthorsYingna Wu (Zhongnan University of Economics and Law), Liang Ding (0000-0003-3998-3860, Jiangxi University of Finance and Economics, corresponding author), Xuan Song (0000-0001-5404-3645, Zhongnan University of Economics and Law), Jun Chen (0000-0002-3850-4875, Auckland University of Technology)
Year2023
Volume13
Issue2
Publication date2023-04-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueSAGE Open (JOURNAL)
Journal identifiersISSN: 2158-2440 • E-ISSN: 2158-2440
PublisherSAGE Publications Inc (PUBLISHER)
DOI10.1177/21582440231182649
OpenAlexW4381661174
LanguageEN
Citations received1
References cited17

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

Business · Team composition · Computer Science · Corporate Finance and Governance · Gender Diversity and Inequality · International Business and FDI · Psychology · Social Psychology · Marketing

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