This paper empirically tests the impact of CEO’s alumni relationships on the stock price crash risk during CEO turnover. Empirical tests find that CEOs’ advantage among alumni networks will increase stock price crash risk during CEO turnover to some degree. However, this effect is built on...

Using empirical date from Chinese A-share listed firms, this paper studies the impact of CEO tenure on the salary policy of employees. Empirical results suggest that in the early stage of CEO tenure, the CEO tends to increase both the salary and the pay-performance sensitivity of employees to...

Using an experimental design, we examine whether CEO race and CEO gender affect investors’ willingness to invest in a company, their forecasts of future performance, and their evaluations of CEO performance, when given narrative and financial information about a firm. We deliberately avoid...