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Shareholder Democracy in Play : Career Consequences of Proxy Contests
Fos, Vyacheslav - 2015
This paper shows that proxy contests have a significant adverse effect on careers of incumbent directors. Following a proxy contest, directors experience a significant decline in number of directorships not only in the targeted company, but also in other non-targeted companies. The results are...
Persistent link: https://www.econbiz.de/10013035358
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Shaped by Booms and Busts : How the Economy Impacts CEO Careers and Management Styles
Schoar, Antoinette - 2017
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 … environment is important to the formation and selection of managers …
Persistent link: https://www.econbiz.de/10012968554
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Shaped by Booms and Busts : How the Economy Impacts CEO Careers and Management Styles
Schoar, Antoinette - 2017
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 … environment is important to the formation and selection of managers …
Persistent link: https://www.econbiz.de/10012975649
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The Career Consequences of Being a Dissident Director
Horstmeyer, Derek - 2017
This paper explores the career consequences of the decision to ally oneself with an activist investor/hedge fund in a proxy contest. Using 102 observations where an existing director reveals themselves to be a ‘dissident director' (i.e. agrees to help an activist in a proxy contest against an...
Persistent link: https://www.econbiz.de/10012962331
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Do Managers Act Opportunistically Towards the End of Their Career?
Kabir, Rezaul - 2020
As managers approach retirement, their career horizons become shorter and they might start to behave opportunistically … imply that executive compensation contracts need to be appropriately adjusted when managers approach retirement …
Persistent link: https://www.econbiz.de/10012855320
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Career Experiences, Managerial Overconfidence and Investment Efficiency : A Natural Experiment from Chinese CEO Growth Path
Hao, Ying - 2014
We show that managerial career experiences have significant explanatory power for corporate investment decisions. We use the setting of economic conditions changed from Central Planning to Market Economy, which is an exogenous shock to managerial characteristic, as a natural experiment to test...
Persistent link: https://www.econbiz.de/10013045346
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Are Directors Rewarded for Excellence? Evidence from Reputation Shocks and Career Outcomes
Chen, Mark A. - 2020
We examine how developing an individual reputation for excellence affects a director's career outcomes in the labor market for boardroom talent. Using unique data on prestigious director awards, we find that individuals who experience very positive reputational shocks are typically rewarded with...
Persistent link: https://www.econbiz.de/10012846939
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Intermediated Asymmetric Information, Compensation, and Career Prospects
Kaniel, Ron - 2020
Adverse selection harms workers, but benefits firms able to identify talent. An informed intermediary expropriates its agents' ability by threatening to fire and expose them to undervaluation of their skill. Agents' track record gradually reduces the intermediary's information advantage. We show...
Persistent link: https://www.econbiz.de/10012842301
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Losers of Executive Promotion Tournaments : Their Incentives, Turnover, and Career Outcomes
Chan, Eric W. - 2019
quality managers are weeded out by the firm, and 2) high quality managers leave because firms are unable to adjust their …
Persistent link: https://www.econbiz.de/10012864757
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Educational Mismatch and Promotions to Managerial Positions : A Test of the Career Mobility Theory
Grunau, Philipp - 2018
Career mobility theory suggests that given a certain occupation, schooling improves upward mobility in terms of promotion and wage growth. We are the first to test the implications of this theory for over- and under-education by means of direct information about promotions to managerial...
Persistent link: https://www.econbiz.de/10012929528