Boards that make a difference in firm’s acquisitions: The role of interlocks and former politicians in Spain
This study examines the influence of board interlocks and former politicians on decisions regarding acquisitions in Spain. Our research suggests that board interlocks to other firms can positively influence operations in terms of acquisition scale. Our findings also show that this relationship is po...
| Autores: | , , |
|---|---|
| Tipo de recurso: | artículo |
| Fecha de publicación: | 2020 |
| País: | España |
| Institución: | Universidad Pablo de Olavide (UPO) |
| Repositorio: | RIO. Repositorio Institucional Olavide |
| Idioma: | inglés |
| OAI Identifier: | oai:rio.upo.es:10433/22101 |
| Acceso en línea: | https://hdl.handle.net/10433/22101 |
| Access Level: | acceso abierto |
| Palabra clave: | Board interlocks Former politicians Regulated industries Acquisitions |
| Sumario: | This study examines the influence of board interlocks and former politicians on decisions regarding acquisitions in Spain. Our research suggests that board interlocks to other firms can positively influence operations in terms of acquisition scale. Our findings also show that this relationship is positively moderated by the presence of former politicians. That is, the effects of interlocks on acquisitions are amplified further when there are former politicians on boards, which confirms their role as community influentials. In the case of Spain, and under-regulated industries, this complementary effect is maintained. However, the role played by interlocks seems to be more important than former politicians, which means that board interlocks can replace other formal methods of acquiring information (through former politicians) while attempting acquisitions. |
|---|