Using a novel data set on founder CEOs in S&P 500 firms for the period from 1993 to 2003, this paper investigates the relationship between founder CEOs and innovation. While entrepreneurs as individuals have long been considered change agents, it is not clear whether entrepreneurs as managers of...

Drawing from the literature on entrepreneurial overconfidence and M&As, we argue that founder CEO-managed firms perform worse than professional CEO-managed firms when they participate in M&A transactions. We test our predictions using a sample of acquisitions by newly listed US public firms from...

To gain a better understanding in how the individual characteristics of CEOs influence firm strategic choice, we explore the relationship between founder CEOs and firm-level strategic risk-taking. We argue that founder-CEO-managed firms will engage in greater risk-taking than...