How Do CEOs Matter? The Effect of Industry Expertise on Acquisition Returns

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How researchers see this paper

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Industry expertise on corporate boards (2017, unknown): “Consistent with these arguments, Custódio and Metzger (2013) show that acquisition returns are higher when the CEO is experienced in the target’s industry.”
Executive Extraversion: Career and Firm Outcomes (2018, unknown): “Following Custódio and Metzger (2013), we include only transactions in which control is transferred, and we require that the transaction value of the merger is at least $50M.”
The Pre-Deal Phase of Mergers and Acquisitions: A Review and Research Agenda (2020, background): “Human capital explanations have also been proposed, highlighting that industry and investment experience of managers and directors may lead to more accurate valuation (Custódio & Metzger, 2013; Q. Huang, Jiang, Lie, & Yang, 2014; Maitland & Sammartino, 2015; Melone, 1994).”
Financial Expert CEOs: CEO’s Work Experience and Firm’s Financial Policies (2014, unknown): “An exception is Custódio and Metzger (2013) who study CEOs' industry expertise in the context of diversifying mergers and acquisitions (M&A) activity.”