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Young male CEOs appear to be combative: they are 4% more likely to be acquisitive and, having initiated an acquisition, they are over 20% more likely to withdraw an offer. Furthermore, a young target male CEO is 2% more likely to force a bidder to resort to a tender offer. We argue that this combative nature is a result of testosterone levels that are higher in young males. Testosterone, a hormone associated with male dominance seeking, has been shown to influence prospects for a cooperative outcome of the ultimatum game. Specifically, high-testosterone responders tend to reject low offers even though this is against their interest. It has been argued that this is consistent with a low offer being seen as dominance seeking. The acts of attempting or resisting an acquisition can be viewed as striving to achieve dominance. We argue that the evidence reported in this paper is consistent with the presence of a significant hormone effect in mergers and acquisitions. Key words: mergers and acquisitions; male dominance seeking; CEO testosterone; bid initiation; bid withdrawal; tender offers History: Received May 27, 2009; accepted May 11, 2010, by Wei Xiong, finance., 1. Introduction One important commonality shared between the mergers and acquisitions (M&As) process and the ultimatum game is that dominance is likely to play a critical role. The ultimatum game [...]

How the values of the chief executive officer can motivate followers to excel is examined. The self-enhancement values which centers on the executive's own happiness is found to attenuate their motivating effect while the self-transcendent values that centers on the happiness of others are found to accentuate the effect.

A study was conducted to investigate how corporate governance factors influence CEO's informal social contacts with colleagues and other companies and performance of the firm. Results indicated that governance factors make CEOs seek out advice contacts, which in turn enhance the performance of the firm.

In this article a study was carried out to examine the effects of stock-based incentives on CEO earnings manipulation behaviors with regard to prospect theory and synthesizing agency theory. Findings show that CEOs were more likely to manipulate firm earnings when they had more out-of-the-money options and ownership of lower stock.

Corporate chief executive officers' bad characteristics are one of the major tendencies to white collar crimes, company mismanagement and bankruptcy. Details on the danger signals of bad corporate chief executive officers are discussed.

A study was conducted to investigate the effect of chief executive officers' (CEOs) narcissism on a company's strategy and performance. Findings indicate that narcissism in CEOs is positively related to strategic dynamism and grandiosity. Aside from this, narcissistic CEOs favor bold actions that attract attention, resulting in big wins or big losses.

A fictitious human resources scenario is presented, with contributors offering advice. The situation involves an abrasive but effective chief executive officer. Advice ranges from coaching the CEO to improve interrelations to finding an equally innovative and effective replacement for the CEO.

The influence of a chief executive officer's charisma on stock prices of that company is examined by focusing American stock markets.

Guidelines are provided for working with difficult superiors, who despite their challenging personalities can often provide valuable contributions to corporate growth, such as political intelligence. Tips for working with them include keeping one's perspective and earning their respect.

A fictitious management scenario is presented, with experts providing advice on judging whether an executive's leadership style is appropriate for the role of chief executive officer. Suggestions include addressing specific goals with firm deadlines and becoming more open regarding how a leader should behave.

The issues like executive leadership and decision-making behaviors are discussed. The perspective on executive leadership and decision-making behaviors suggests a finer-grained conceptualization of the executive job demands construct and finer-grained conceptualization of executive decision behaviors.

The construct of executive job demands is developed by building work in industrial/organizational psychology. Some of the key implications for strategic choices and leadership behaviors and usefulness of this construct in advancing research on numerous fronts including agency theory, executive compensation, and upper echelons are proposed.

This article explores 1 mechanism by which leader personality affects organizational performance. The authors hypothesized and tested the effects of leader personality on the group dynamics of the top management team (TMT) and of TMT dynamics on organizational performance. To test their hypotheses, the authors used the group dynamics q-sort method, which is designed to permit rigorous, quantitative comparisons of data derived from qualitative sources. Results from independent observations of chief executive officer (CEO) personality and TMT dynamics for 17 CEOs supported the authors' hypothesized relationships both between CEO personality and TMT group dynamics and between TMT dynamics and organizational performance.

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