Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/338419 
Year of Publication: 
2020
Citation: 
[Journal:] China Journal of Accounting Studies (CJAS) [ISSN:] 2169-7221 [Volume:] 8 [Issue:] 1 [Year:] 2020 [Pages:] 35-65
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
Using the manually collected data of CEOs' financial and accounting education experience from A-share listed companies during 2008 to 2016, we find in this paper that CEOs who had received financial and accounting education could play a professional role in M&A decision-making and improve M&A performance. The positive effect of CEOs' financial and accounting education experience on M&A performance is more significant in non-SOEs, especially those with stronger supervision and incentives to CEOs. Further tests show that CEOs with financial and accounting education experience improve the efficiency of M&A by reducing the premium, shortening the duration and promoting the synergistic effect of M&A. From the perspective of M&A performance, this paper provides empirical evidence for the economic value of financial and accounting education.
Subjects: 
CEO education experience
M&A performance
property rights
supervision and incentives
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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