Combining studies on CEO personality traits and real options theory, we propose that the firm’s strategic flexibility can be improved by CEO openness to experience but worsened by CEO conscientiousness and neuroticism. We construct the degree of strategic flexibility by exploring the firm’s...

We show that narcissistic CEOs are willing to sacrifice compensation for media coverage. The results of our study imply that firms with high media coverage exploit the narcissistic CEO’s desire for attention and acclaim by granting such a CEO a smaller monetary compensation. Our findings are...

We investigate the relationship between CEO extraversion and the geographical dispersion of acquisitions within the U.S. The dispersion decision is important and has implications for employment, investments, and valuation. We show that extraverted CEOs prefer local deals and that the stock...

Environmental, social, and governance (ESG) issues are important for consumers, investors, and other stakeholders. The same applies for gender diversity. We show that whether female CEOs seem to matter for the firm’s ESG profile depends crucially on the data used for the analysis: depending on...

This empirical study of the exchange rate exposure management of Danish non-financial firms listed on the Copenhagen Stock Exchange shows that debt denominated in foreign currency (“foreign debt”) is a very important alternative to the use of currency derivatives. The results show that the...