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CEO tenure and firm value

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Do CEOs matter? : corporate performance and the CEO life cycle

Limbach, Peter; Schmid, Markus M.; Scholz-Daneshgari, Meik - 2016 - This draft: December 13, 2016

We examine how CEOs' impact on firm value varies over time. We document a hump-shaped relation between CEO tenure and firm value which is subject to meaningful variation depending on industry dynamics, the business cycle, and CEOs' adaptability to changes. Semi-parametric estimations, stock...

Persistent link: https://www.econbiz.de/10011571743