Managerial hubris
Bidding Firms From Wikipedia, the free encyclopedia
Managerial hubris is the unrealistic belief held by managers in bidding firms that they can manage the assets of a target firm more efficiently than the target firm's current management.
Managerial hubris is one reason top managers, e.g., CEOs[1] and board directors,[2] may choose to invest in a merger that on average generates no profits.[3]
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