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An important CEO attribute that shapes firm strategies such as mergers and acquisitions is uncovered. When the going gets tough, the tough goes shopping for M&A targets. This year looks set to be a record year for mergers and acquisitions, with US$2.4 trillion of deals signed by the end of May, the highest year-to-date total since 1980. The frenzied dealmaking continues a rebound that began in the latter half of 2020, a stunning recovery from the doldrums of the preceding six months when the world was in the throes of Covid-19. What might explain such an acquisitive streak? By some analyses, companies holding up well or thriving in the pandemic are snapping up assets to grow or transform, enabled by high liquidity, low costs of borrowing and a booming stock market. It may also have something to do with the people running these companies. Research has shown that ....