We study the life cycle performance of hedge fund managers. We are the first to find that hedge fund managers have a life cycle relationship between their work experience and performance. In the early years of their profession, fund managers work hard to build up their expertise. As a result,...

We hypothesize that when managers do not exercise their options, they signal valuable private information. Accordingly, we construct a proxy to capture managers’ private information from their in-the-money vested options unexercised (VOU) and find a positive relation with subsequent operating...

Initial Public Offering (IPO) outcomes are affected by the social capital of firm's chief executive officer (CEO), proxied by CEO's network centrality that identifies individual position within the hierarchy of all business executives worldwide. IPOs with CEOs who possess higher social capital...

We examine the effects of public firm CEOs' prior private equity (PE) target experiences on corporate policies. Based on difference-in-differences and propensity score matching analyses, public firm CEOs previously serving as CEOs in PE targets reduce investment by about 15 percent while...

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 study assessed the relationship between dividend yield and financial performance of the listed companies at Nairobi Securities Exchange. Bird in hand theory anchored the study. An explanatory research design was adopted where all the 62 firms listed in Nairobi Securities Exchange (NSE)...

The research examines the effect of Chinese Astrology (shio) and managerial ownership on firm's performance. The research also examines other issue of agency problem which is called managerial ownership. The separation between the principal with ownership function and agent with control function...

This study assesses whether individual-level trust between the board chair and the CEO affects firm performance. We find that chair-CEO trust is positively associated with firm performance. Additional tests suggest the relationship between trust and firm performance is causal, with more...

We investigate how the fit of a company's corporate social responsibility (CSR) activities to its business operations affects the investment willingness of long- and short-term investors. While prior research shows several positive outcomes associated with CSR, we predict and find that low-fit...