My guess is there are two causes of deal-eager executives. It is the type of person who becomes CEO and it is the type of person we make them. Let me discuss the first one with you.
An interesting line of research in social anthropology analysed what type of person is more likely to rise through the ranks to become the headman of a tribe. Often, this would be the most fierce, ambitious and aggressive warrior, who would be willing to take on all his opponents in the quest for leadership.
Yet, interestingly, although characteristics such as fierceness and ambition would be helpful in becoming tribe leader, these characteristics were not necessarily positive for the future of the settlement, since these type of leaders were prone to take the tribe to war. This would ultimately take its toll on the size, strength and survival chances of the tribe. Thus, the same characteristics that would make people more likely to become the headman, were likely to get the tribe in to trouble.
CEOs might not be all that different. Those people who are ambitious, risk-seeking and aggressive enough to be able to rise to the ultimate spot of CEO, just might be the same people who, once they’re there, take their firm on a conquest.
Acquisitions offer the thrill of the chase. You select a target, mobilise resources and lead the attack. Sometimes there are others eyeing your prey but skilful manoeuvring and a fierce battle will make you come out victorious again. And another victory means pictures in the newspapers, popping champagne, and a larger tribe to rule and command.