Presented empirical research at the 41st EGOS Colloquium under Sub-theme 63: Strategies in Organizations – Unintended Consequences and Emergent Patterns. Delivered a full paper titled “Downsides of Intensive Acquisition: The Moderating Role of Board Involvement and Gender Diversity in Mitigating Firm Risk”, contributing to scholarly dialogue on the unintended outcomes of strategic decisions. The presentation explored how acquisition intensity can elevate firm risk, and how governance mechanisms—particularly board engagement and gender diversity—can buffer these effects. The sub-theme convened by Ann-Christine Schulz (University of Sustainability), Florian Bauer (University of Bristol), and Olimpia Meglio (University of Naples Federico II) provided a platform for examining emergent strategic patterns and the complex dynamics of organizational change. The session fostered interdisciplinary exchange among scholars in strategy, organization theory, and corporate governance.