Female directors and acquisitions: Australian evidence

Lucas, Ryley and Gunasekarage, Abeyratna and Shams, Syed and Edirisuriya, Piyadasa (2021) Female directors and acquisitions: Australian evidence. Pacific-Basin Finance Journal, 68:101600. ISSN 0927-538X


Abstract

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.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Additional Information: Permanent restricted access to Published version in accordance with the copyright policy of the publisher.
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Date Deposited: 29 Jun 2021 05:29
Last Modified: 29 Jun 2021 05:29
Uncontrolled Keywords: female directors; gender-diverse boards; value-creating acquisitions; acquisition efficiency; female directorship traits
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150201 Finance
15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150299 Banking, Finance and Investment not elsewhere classified
15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150202 Financial Econometrics
Fields of Research (2020): 38 ECONOMICS > 3801 Applied economics > 380102 Behavioural economics
38 ECONOMICS > 3801 Applied economics > 380108 Health economics
38 ECONOMICS > 3801 Applied economics > 380107 Financial economics
Identification Number or DOI: https://doi.org/10.1016/j.pacfin.2021.101600
URI: http://eprints.usq.edu.au/id/eprint/42476

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