CEO Backgrounds and Stock Performance: Evidence from the Great Recession
| Autor: | Sheri Tice, Ling-Ling Wang, Jiaren Pang |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
ComputingMilieux_THECOMPUTINGPROFESSION
genetic structures media_common.quotation_subject education ComputingMilieux_PERSONALCOMPUTING ComputingMilieux_LEGALASPECTSOFCOMPUTING Monetary economics Recession GeneralLiterature_MISCELLANEOUS eye diseases Work experience Great recession ComputingMilieux_MANAGEMENTOFCOMPUTINGANDINFORMATIONSYSTEMS Incentive Financial crisis Economics sense organs human activities Stock (geology) media_common |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.3104573 |
| Popis: | Using the Great Recession of 2007-2009 as a quasi-natural experiment, we find that CEOs’ work experience is significantly related to firm stock performance while their endowed traits play a limited role in the recession. No CEO characteristics matter during the pre-recession period. CEOs who experienced more downturns in their incumbent firms’ industries during their careers perform better while CEOs with more diversified work experience perform worse in the recession; firm policies adopted by CEOs explain the former but not the latter finding, which appears to be more related to CEO incentives in the recession. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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