This paper documents the existence of a CEO Investment Cycle, in which firms disinvest early in a CEO's tenure and increase investment subsequently, leading to "cyclical" firm growth in assets as well as in employment over CEO tenure. The CEO investment cycle occurs for both firings and...

Microfinance institutions need improved access to debt capital to cover a huge and increasing world demand for microfinance services. More experienced CEOs may be more aligned with the microfinance institution’s mission and they may have a better understanding of the business model of...

In this study, we investigate the relationship between CEO tenure and cost of debt. Using a sample of the FTSE All-Share Index firms listed on the London Stock Exchange for the period 2009 to 2018 and the ordinary least squares regression (OLS) estimation method, we find that cost of debt is...

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...