Efficiency of M&As and Diversification
The project provides an empirical analysis of the results of M&A's of innovative companies in a developed and secure capital market.
New streams of research of 2020 focus on the personal traits and behavioral characteristics of Russian CEO's. First, we consider the influence of the intellectual capital of the CEO. Second, we analyse the influence of anomalies in the CEO's behavior on the efficiency of M&A's of innovative companies.
- Valuation of CEO influence on M&A deals in emerging markets;
- Construction and testing regression models to value influence of CEO overconfidence on M&A deals;
- Studying the influence of the intellectual capital of the CEO and anomalies in CEO behavior on the efficiency of mergers and acquisitions of innovative companies.
- Based on event-studies we proved the negative impact of CEO overconfidence on the sucess of M&A deals;
- When studying a subsample of M&A deals, where the target is a highly innovative company, there is no significant influence of overconfidence on the success of M&A deals.
Latest Results of the Project
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