Similar Search Results

Shaped by Booms and Busts : How the Economy Impacts CEO Careers and Management Styles

Schoar, Antoinette - 2014

We show that economic conditions when managers enter the labor market have long-run effects on their career paths and managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also have more conservative styles, such as lower...

Persistent link: https://www.econbiz.de/10013067126

Promotions and the Peter Principle

Benson, Alan - 2018

The best worker is not always the best candidate for manager. In these cases, do firms promote the best potential manager or the best worker in her current job? Using microdata on the performance of sales workers at 214 firms, we find evidence consistent with the “Peter Principle,” which...

Persistent link: https://www.econbiz.de/10012927014

How Do Quasi-Random Option Grants Affect CEO Risk-Taking?

Shue, Kelly - 2019

We examine how an increase in stock option grants affects CEO risk-taking. The overall net effect of option grants is theoretically ambiguous for risk-averse CEOs. To overcome the endogeneity of option grants, we exploit institutional features of multi-year compensation plans, which generate two...

Persistent link: https://www.econbiz.de/10012902373

Growth Through Rigidity : An Explanation for the Rise in CEO Pay

Shue, Kelly - 2018

The dramatic rise in CEO compensation during the 1990s and early 2000s is a longstanding puzzle. In this paper, we show that much of the rise can be explained by a tendency of firms to grant the same number of options each year. Number-rigidity implies that the grant-date value of option awards...

Persistent link: https://www.econbiz.de/10012936509

How Do CEOS See Their Role? Management Philosophy and Styles in Family and Non-Family Firms

Mullins, William - 2014

Using a survey of 800 CEOs in 22 emerging economies we show that CEOs' management styles and philosophy vary with the … hierarchical management, and feel more accountable to stakeholders such as employees and banks than they do to shareholders. They … arrangements in how intensively family members are involved in management …

Persistent link: https://www.econbiz.de/10013063090

The Effect of Managers on Systematic Risk

Schoar, Antoinette; Yeung, Kelvin; Zuo, Luo - 2022

Tracking the movement of top managers across firms, we document the importance of manager-specific fixed effects in explaining heterogeneity in firm exposures to systematic risk. These differences in systematic risk are partially explained by managers’ corporate strategies, such as their...

Persistent link: https://www.econbiz.de/10013306635