CEO visibility : are media stars born or made?

Elizabeth Blankespoor (Stanford University - Graduate School of Business), Ed DeHaan (Stanford Graduate School of Business)

Prior research indicates that CEO media visibility significantly impacts firm value and CEO career outcomes. We investigate whether and how CEOs strategically use disclosures to influence media coverage of themselves. We develop a measure of “CEO promotion” based on the CEO's presence in firm press releases and the linguistic style of the CEO's quotes. Determinants tests are consistent with our measure of CEO promotion being an intentional act based on cost/benefit considerations. Using our new measure, we find evidence consistent with CEO promotion being effective in reducing journalists' production costs, thereby increasing CEO media coverage and spinning media articles in the firm's favor. These results provide new insights as to specific ways in which CEOs influence media coverage. We also provide an empirical measure of abnormal CEO promotion that can be used in future research

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Year of publication:	[June 30, 2015] ; Current Draft: 6/30/2015
Authors:	Blankespoor, Elizabeth ; deHaan, Ed
Publisher:	Stanford, CA : Rock Center for Corporate Governance, Stanford University
Subject:	Führungskräfte \| Managers \| Mediale Berichterstattung \| Media coverage \| Managervergütung \| Executive compensation \| Geschäftswert \| Goodwill \| Unternehmenspublizität \| Corporate disclosure

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Extent:	1 Online-Ressource (circa 66 Seiten) Illustrationen
Series:	Rock Center for Corporate Governance at Stanford University working paper series. - Stanford, Calif., ZDB-ID 2551085-X. - Vol. no. 204 Stanford University Graduate School of Business research paper. - Rochester, NY : Social Science Electronic Publishing, ZDB-ID 2865911-9. - Vol. no. 15-21]
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	10.2139/ssrn.2577994 [DOI]
Classification:	L82 - Entertainment; Media (Performing Arts, Visual Arts, Broadcasting, Publishing, etc.) ; D83 - Search, Learning, Information and Knowledge ; M12 - Personnel Management ; M41 - Accounting
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011448730