Is CEO/Chair Duality Associated with Greater Likelihood of an International Acquisition?

I investigate the likelihood that a firm with a combined CEO/chair (i.e., a firm in which the CEO is also the chairman of the board) will pursue an international acquisition using 2,271 firms in the S&P 1500 from 1992 to 2007. I find evidence that firms with a dual CEO/chair are more likely to announce an international acquisition, although the strength of the association varies with the specification of my control variables. International acquisitions are also more likely for larger, high-sales-growth firms with lower leverage and lower cash levels. This paper extends prior work on the relationship between leadership structure and acquisitions by investigating international acquisitions.