The Effects Of MBA Of CEOs In Family-listed Companies On Their M&A Performance

MBA,as a form of education that can practice the practical,compound,and applied high-level management talents that can meet the needs of enterprises,is deeply concerned and "hot" by people from all walks of life,and it is also as one of important way and "sources" to transport excellent executives to enterprises.However,what effect does managerial vocational education have on the company,and what is its internal mechanism of action? In the current literature research is still relatively weak.As a family organization based on the “blood” relationship,it controls the company's main capital or shares through family members and undertakes the main leadership functions.It poses more requirements and challenges to the chief executive(CEO)of the company;Whether or not its own MBA education has an impact on the performance of the company and how it affects the outcome is a very practical issue and a fundamental issue that is worth digging.This paper uses the Propensity Score Matching(PSM)method to determine whether the MBA education of the family-owned company's CEO is based on the acquisition of shareholder wealth and the family company's M&A performance.On the first announcement date,the listed company's M&A event in China during2004-2012 was the object of the study.The most striking investment activity in the company's economic activities—the M&A event—is the starting point of the research and an empirical analysis.It has important theories and realities.The research shows that the background of CEO's MBA education is beneficial to the increased acquirer shareholder wealth,and it's with a positive impact on m&a performance,whereas an EMBA degree has no effect on m&a performance.At the same time,with a background in science and engineering,the CEO who obtained an MBA degree has a positive effect on m&a performance,however,the overseas MBA,as well as the specific school(such as China European business school and cheung kong graduateschool of business)have no influence on m&a performance.In addition,the family business MBA education has obvious positive effect on the enterprise performance.For that,this article suggested that senior managers in the MBA education in the process of choice,should be an objective evaluation on the quality of school,in the process of acceptance degree education,avoid blindly follow the phenomenon.Furthermore,family business should the CEO and other senior management level personnel's academic background to improve the importance,in the company's human resources strategy should strengthen the education of senior management personnel of the theory.It not only enriches the perspective of research on the relationship between corporate executive education and corporate performance,but also breaks the traditional research perspectives and research areas based on governance structure,senior management team,and provides reference for the healthy growth and development education of family CEOs.