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The effect of tenure and age diversity in corporate boards on M&A premiums

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dc.contributor.advisorMaung, Min
dc.contributor.advisorWilson, Craig
dc.contributor.committeeMemberPark, Han-Up
dc.contributor.committeeMemberYang, Fan
dc.contributor.committeeMemberRacine, Marie
dc.creatorHossain, Forhad
dc.date.accessioned2021-09-28T15:36:42Z
dc.date.available2022-09-28T06:05:10Z
dc.date.created2021-09
dc.date.issued2021-09-28
dc.date.submittedSeptember 2021
dc.date.updated2021-09-28T15:36:43Z
dc.description.abstractUsing a comparatively large sample of North American M&A transactions, I examine the effect of acquirer boards’ tenure and age diversities on M&A premium. Going against the general understanding of the value-enhancing contribution of board diversity in corporate boards, my finding concludes that both tenure and age diversity in acquirer corporate boards are associated with an increase in M&A premium. Also, boards with more tenure and age diversity are associated with taking longer time to complete M&A deals. Thus, my results suggest that certain types of diversity may be wealth-destroying, at least when it comes to corporate mergers. My results are backed by a battery of robustness and endogeneity tests.
dc.format.mimetypeapplication/pdf
dc.identifier.urihttps://hdl.handle.net/10388/13618
dc.subjectCorporate Boards
dc.subjectTenure Diversity
dc.subjectAge Diversity
dc.subjectM&A Premium
dc.subjectM&A deal Completion Days
dc.titleThe effect of tenure and age diversity in corporate boards on M&A premiums
dc.typeThesis
dc.type.materialtext
local.embargo.terms2022-09-28
thesis.degree.departmentFinance
thesis.degree.disciplineFinance
thesis.degree.grantorUniversity of Saskatchewan
thesis.degree.levelMasters
thesis.degree.nameMaster of Science (M.Sc.)

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