IDEAS home Printed from https://ideas.repec.org/a/eee/pacfin/v99y2026ics0927538x26001563.html

Wisdom of crowds: General ability of family firm sibling management teams and M&A activities

Author

Listed:
  • Lu, Yunzhu
  • Xie, Rongrong
  • Lan, Rujia

Abstract

We examine the impact of the general ability of sibling management teams in family firms on mergers and acquisitions activities. We construct a team general ability index of sibling team based on the resumes of sibling executives from Chinese listed family firms during 2008–2021. Our analysis shows that higher team general ability significantly increases M&A frequency and enhances M&A performance. These effects operate mainly through ability complementarity, resource support, and risk preferences. Further analysis shows that it is more effective when the sibling team has a balanced distribution of interests, and the effect also varies with general ability structure, the stage of intergenerational transmission, and cultural environments. This study extends research on M&A motives in family firms from the perspective of sibling management teams, offering implications for improving family firm governance and talent allocation.

Suggested Citation

  • Lu, Yunzhu & Xie, Rongrong & Lan, Rujia, 2026. "Wisdom of crowds: General ability of family firm sibling management teams and M&A activities," Pacific-Basin Finance Journal, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:pacfin:v:99:y:2026:i:c:s0927538x26001563
    DOI: 10.1016/j.pacfin.2026.103210
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0927538X26001563
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.pacfin.2026.103210?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:pacfin:v:99:y:2026:i:c:s0927538x26001563. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/pacfin .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.