Does the interplay between the personality traits of CEOs and CFOs influence corporate mergers and acquisitions intensity? An econometric analysis with machine learning-based constructs

Qiping Wang, Raymond Y. K. Lau, Kai Yang

Abstract: Highlights•The interplay between CEO and CFO personality traits and corporate M&A intensity;•An econometric model with novel machine learning-based constructs;•CEO's personalities of openness, consciousness, and neuroticism are associated with M&A intensity.•CEO-CFO personality similarity moderates the relationships above.•Our findings have implications for corporate decision makers and institutional investors.