Board Gender Diversity and M&A performances, An event study on European M&A deals

dc.contributor.advisor	Janssen, Dirk-Jan
dc.contributor.author	Pince van der Aa, Etchika
dc.date.issued	2022-07-13
dc.description.abstract	Mergers and Acquisitions (M&A) could be value enhancing or destroying for shareholders. A high percentage of M&A failures are attributed to male dominance in corporate boards of directors. This study examines the impact of board gender diversity on M&A performances of listed European acquirers. An event study is performed to obtain the cumulative abnormal returns (CARs) from 910 M&A deals from 2003 to 2021 in 20 European countries. The results indicate that there is no significant relationship between board gender diversity (BGD) and M&A performances. Furthermore, it is found that the presence of at least 30% female directors on the acquiring board does not significantly impact the M&A performances. Finally, it is found that the effect of board gender diversity on M&A performances is not significantly stronger in countries with a binding gender quota law or a soft gender quota law. With one-year lagged variables included, a positive significant effect of BGD was found.	en_US
dc.identifier.uri	https://theses.ubn.ru.nl/handle/123456789/12973
dc.language.iso	en	en_US
dc.thesis.faculty	Faculteit der Managementwetenschappen	en_US
dc.thesis.specialisation	Corporate Finance & Control	en_US
dc.thesis.studyprogramme	Master Economics	en_US
dc.thesis.type	Master	en_US
dc.title	Board Gender Diversity and M&A performances, An event study on European M&A deals	en_US

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