There are several reasons why mutual fund corporate culture should predict fund performance. First, at funds with excellent corporate cultures, employees are recognized for their contributions and are involved in decision making. This usually translates into employees working harder, being more...

In this study, we examine how changes in credit risk around CEO turnover announcements are affected by the nature of the succession (forced vs. voluntary), outgoing CEO’s legacy, and concentration of job titles. We find that firms whose incumbent is forced out experience a greater increase in...

This paper represents the first attempt to empirically examine the relationship between Chief Executive Officer (CEO) educational background and firm financial performance. Using a relatively broad sample of 390 US firms, we find no significant evidence that the type or selectivity of the...