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This paper investigates the effect of superstar CEOs on their competitors. Exploiting shocks to CEO status due to …
Persistent link: https://www.econbiz.de/10011344197
Influenced by their compensation plans, CEOs make their own luck through decisions that affect future firm risk. After adopting a relative performance evaluation (RPE) plan, total and idiosyncratic risk are higher, and the correlation between firm and industry performance is lower. The opposite...
Persistent link: https://www.econbiz.de/10011968863
relationship between chairman and CEO compensation. Using a sample of publicly listed firms in Sweden, the study indicates that … chairman compensation – despite its fixed nature – is reflective of firm performance via a positive relationship to CEO … compensation. As CEO compensation is set before chairman compensation, we argue that the chairman may be inclined to conspire with …
Persistent link: https://www.econbiz.de/10013067400
I look at the relationship between corporate loan terms and connections of board members to bankers through employment on other boards, a connection less likely to be affected by confounding factors. Specifically, I examine whether loan terms such as pricing and maturity as well as other loan...
Persistent link: https://www.econbiz.de/10012844268
Using hand-collected data on chief executive officer (CEO) non-compete agreements (NCAs), we find that NCAs are less …
Persistent link: https://www.econbiz.de/10012852395
While boards are known to react to corporate misconduct by removing the executives responsible, little is known about whether the board's response is shaped by the firm's social context. Using the 2006 stock option backdating scandal, in which firms manipulated stock option grant dates, we...
Persistent link: https://www.econbiz.de/10012857019
While poor firm performance has been shown to be an important predictor of CEO dismissal, financial performance alone … cannot explain the increased incidence of CEO dismissal. The complex and ambiguous relationship between poor firm performance … and CEO dismissal is due in part to the uncertainty that surrounds the board's evaluation of the firm's CEO. In this study …
Persistent link: https://www.econbiz.de/10012857436
increases the correlation across projects by exposing them to the shock of the same CEO. We show that, in contrast to the …
Persistent link: https://www.econbiz.de/10013025002
Using hand-collected data on CEO non-compete agreements (NCAs), we find that CEOs are less likely to have NCAs when …
Persistent link: https://www.econbiz.de/10012917941
’ age, tenure, gender, duality (i.e., holding concurrent chairman and CEO roles), educational background, and career horizon …, and find that age increases risk-taking. However, when the CEO’s age reaches a given point, their concern about reputation … and retirement results in a negative relationship. We also find that as CEO tenure increases, corporate risk begins to …
Persistent link: https://www.econbiz.de/10014353068