Three essays on M&A decision making

Abstract

As mergers and acquisitions (M&As) are widely used as an important strategic mode over the last several decades, acquisition decisions have increasingly become an important research subject in academic fields. Concentrating on two critical decisions, i.e., premium and completion (vs. abandonment), in takeover processes, this doctoral dissertation seeks to delve into the factors that influence organizational decisions in a multifaceted way. Particularly, I examine the board gender diversity as a firm-level attribute, stock market reactions as a market-level attribute, and national economic development disparity between involved parties as a country-level attribute, respectively.