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We study whether CEO political ideology affected how S&P 500 firms reacted to the Covid-19 pandemic, an exogenous shock to demand and supply. We hypothesize that conservative CEOs are more likely to adopt shareholder-friendly than employee-friendly reactions to the pandemic. Hence, they should...
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Using a proprietary dataset, we study whether CEO political ideology affected how S&P 500 firms reacted to the Covid-19 pandemic. We hypothesize that conservative CEOs are more likely to downsize their workforce while meeting dividend expectations. Conversely, other CEOs should be less likely to...
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Option-based measures of overconfidence are widely used as proxies for overconfidence in corporate finance. Overexposure of a CEO's wealth to the firm's idiosyncratic risk is taken as a sign of CEO overconfidence. The literature has used the measures to study the effect of managerial...
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