In this paper we compare the relations between the changes in the personal wealth of CEOs and firm performance among Japanese and American companies. Using a personal income measure imputed from annual personal income tax amounts for Japanese executives, we show that Japanese and US CEOs are...

This paper examines the effect of geographic and industrial diversification on firm value for a sample of over 20,000 firm-year observations of U.S. corporations from 1987-1993. Our" multivariate tests indicate the average value of a firm with international operations is 2.2% higher than...