The effect of CEO characteristics – gender, age, tenure, turnover – on companies’ M&A behavior

This thesis will examine how CEO characteristics like gender, age, tenure and turnover affect the M&A behavior of European publicly listed companies. Existing research rarely considers these traits together and outside the U.S. context. Using panel data from Orbis and Refinitiv Eikon, the study will apply regression model to assess their influence on risk appetite and deal activity. On the foundation of Upper Echelons and Agency Theory, the research aims to add to corporate governance knowledge the linkage of executive traits to strategic outcomes.