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Shattering the glass ceiling: Female leadership and acquisitiveness in family and nonfamily firms

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  • Magnanelli, Barbara Sveva
  • Pirolo, Luca
  • Raoli, Elisa

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.

Suggested Citation

  • Magnanelli, Barbara Sveva & Pirolo, Luca & Raoli, Elisa, 2024. "Shattering the glass ceiling: Female leadership and acquisitiveness in family and nonfamily firms," Finance Research Letters, Elsevier, vol. 67(PA).
    • Handle: RePEc:eee:finlet:v:67:y:2024:i:pa:s1544612324008249
    DOI: 10.1016/j.frl.2024.105794
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    More about this item

    Keywords

    M&As; Family firm; CEO; Female leadership; Diversity;
    All these keywords.

    JEL classification:

    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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