CEO Backgrounds and Stock Performance : Evidence from the Great Recession

Using the Great Recession of 2007-2009 as a quasi-natural experiment, we find that CEOs' work experience is significantly related to firm stock performance while their endowed traits play a limited role in the recession. No CEO characteristics matter during the pre-recession period. CEOs who experienced more downturns in their incumbent firms' industries during their careers perform better while CEOs with more diversified work experience perform worse in the recession; firm policies adopted by CEOs explain the former but not the latter finding, which appears to be more related to CEO incentives in the recession

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Year of publication:	2018
Authors:	Pang, Jiaren
Other Persons:	Tice, Sheri (contributor) ; Wang, Lingling (contributor)
Publisher:	[2018]: [S.l.] : SSRN
Subject:	Führungskräfte \| Managers \| Finanzkrise \| Financial crisis \| Kapitaleinkommen \| Capital income \| Börsenkurs \| Share price \| Wirtschaftskrise \| Economic crisis

Extent:	1 Online-Ressource (53 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: University of Connecticut School of Business Research Paper No. 18-06 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 18, 2016 erstellt
Other identifiers:	10.2139/ssrn.3104573 [DOI]
Classification:	G30 - Corporate Finance and Governance. General ; J24 - Human Capital; Skills; Occupational Choice; Labor Productivity ; M10 - Business Administration. General
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012929913