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Female directors and acquisitions: Australian evidence

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  • Lucas, Ryley
  • Gunasekarage, Abeyratna
  • Shams, Syed
  • Edirisuriya, Piyadasa

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.

Suggested Citation

  • Lucas, Ryley & Gunasekarage, Abeyratna & Shams, Syed & Edirisuriya, Piyadasa, 2021. "Female directors and acquisitions: Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 68(C).
    • Handle: RePEc:eee:pacfin:v:68:y:2021:i:c:s0927538x21001074
    DOI: 10.1016/j.pacfin.2021.101600
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