Chief Executive Officer Research Articles

Kafa Taha: I Am the Investment of Many

ABSTRACT This article uses the Tongan proverb Kafa Taha to illustrate the interconnectedness and strength derived from collective investments in personal and professional development. Reflecting on her educational and professional experiences, particularly as the president and chief executive officer of the Council on Social Work Education (CSWE), the author highlights how these investments have shaped her journey, and the role of social justice, equity, and the mission of social work education. As the CSWE Minority Fellowship Program (MFP) celebrates its 50th anniversary, it is a pivotal moment to address contemporary challenges, such as post-COVID-19 issues and socioeconomic crises. It envisions a new era of innovation, strategic planning, and foresight for the MFP to equip future leaders for evolving global challenges.

ESG Performance and CEO Dismissal: Moderating Role of State-Owned Enterprises and Ownership Concentration

ABSTRACT We explores how environmental, social, and governance (ESG) performance affects the likelihood of chief executive officer (CEO) dismissal. Using a sample of listed Chinese firms from 2011–2021, we find that better ESG performance reduces the probability of CEO dismissal; however, this correlation is weaker in state-owned enterprises and firms with concentrated ownership. ESG performance significantly protects CEOs’ positions in poorly performing firms or those receiving negative performance feedback. Mechanism analyses indicate that ESG performance operates by attracting more analyst coverage and easing financial constraints. Focal firms’ ESG performance have spillover effects on peer firms’ voluntary disclosure by reducing the likelihood of CEO dismissal, especially in the industrial sector.

Engineer CEOs and corporate risk taking

PurposeThis study aims to examine whether engineer chief executive officers (CEOs) influence corporate risk-taking behaviour. We further examine the corporate characteristics that facilitate this association.Design/methodology/approachWe argue that engineer CEOs have unique skills and access to technical and/or technological social circles, increasing their self-confidence in decision-making. Using upper echelon and imprint theories, we hypothesise a positive association between engineer CEOs and corporate risk-taking. We hand-collected data of engineer CEOs in a sample of Australian listed firms from 2015 to 2022, and corporate risk-taking is measured based on stock return volatility and return on asset volatility over three overlapping years. The hypothesis is examined using regression analysis, followed by robustness tests.FindingsThe analysis indicates a positive association between engineering CEOs and corporate risk-taking. The results are robust to fixed effect regressions, propensity score matching, accounting for residuals of the engineer CEO variable, and two-stage least squares (2SLS) methods. We traced sources of corporate risk-taking, finding that financial leverage and sales growth facilitate risky investments.Practical implicationsThe results present implications for the literature, corporate leaders, investors and regulators in understanding the role of CEOs’ technical expertise in determining corporate risk appetite. The results are insightful for stakeholders by revealing that engineer CEOs increase the corporate risk profile.Originality/valueThis paper reveals that engineering CEOs increase corporate risk profiles, showing the importance of considering the specific expertise of leaders independently in understanding corporate risk-taking behaviour.

Letter from the Chief Executive Officer Dr. John Cho.

Letter from the Chief Executive Officer Dr. John Cho.

Doing bad under industry tournament incentives: evidence from corporate social irresponsibility in China

PurposeTaking tournament and agency theories as theoretical bases, this study aims to examine whether and when industry tournament incentives affect corporate social irresponsibility (CSiR).Design/methodology/approachThis study focuses on publicly listed companies in China from 2003 to 2018, with a total of 26,638 observations across 3,013 firms. Based on this dataset, the study employs a high-dimensional fixed effects model to empirically investigate the impact of industry tournament incentives on CSiR. Additionally, it explores the moderating effects of founder chief executive officers, multiple large shareholders and state-owned enterprises on this relationship.FindingsThis study demonstrates that industry tournament incentives have a significant positive impact on CSiR. Additionally, the findings reveal that founder-chief executive officers and multiple large shareholders weaken the above relationships, whereas state-owned enterprises have no moderating effect on the above relationships.Originality/valueBy analyzing and testing the relationship between industry tournament incentives and CSiR for the first time, this study contributes to the literature on industry tournament incentives, the CSiR literature and tournament theory.

The signaling of CEO human capital in foreign-listed initial public offerings

PurposeForeign initial public offerings (IPOs) typically face capital market liability of foreignness (CMLOF) caused by factors such as institutional distance. Firms must overcome CMLOF by utilizing their resources, such as chief executive officer (CEO) human capital, to compete successfully in the global marketplace. Using signaling and human capital theories, this study examines how institutional distance and CEO human capital impact foreign IPO performance.Design/methodology/approachWe analyzed 318 foreign IPO firms from 43 different countries listed on ten stock exchanges using pooled hierarchical OLS regression.FindingsWe found that the CEO’s general international experience, foreign education, and international experience in the host country are negatively related to IPO performance. Also, host country-specific experience was more negatively related to IPO performance than general international experience. The CEO’s functional background moderated the relationship between a CEO's international experience and IPO performance.Originality/valueThe study contributes to the top management team and IPO research by demonstrating that previous findings on the role of CEO human capital on firm outcomes cannot be generalized to the foreign IPO context. The intriguing results raise critical questions regarding a CEO’s impact on foreign IPO performance, underscoring the need for further research.

Communication Rhetoric as a Tool for Personal Branding:

The purpose of this study is to see how the rhetorical analysis on the formation of Hofyan Nazaki's personal branding as the Chief Executive Officer (CEO) of the Global Youth Ambassador. The ability to communicate is very important when correlated with the development of personal branding. In general, speaking skills show a person's credibility because they are considered more likely to succeed in their career life. Rhetoric is a practical art in persuasion by focusing on managing arguments, drafting ideas, using language, and procedures for delivering speech. Then how communication rhetoric can play an important role in the formation of personal branding so that it is able to build a good image in running social life, in this study the author wants to find out and analyze the influence of communication rhetoric in the formation of personal branding Hofyan Nazaki as Chief Executive Officer (CEO) of Global Youth Ambassador. The method used in this study is qualitative descriptive. Primary data sources were obtained from interviews with the Chief Executive Officer (CEO) of the Global Youth Ambassador. Secondary data is sourced from data obtained through Instagram @globalyouth.amb, documents or literature that support primary data. Based on the results of research and data collection, it can be concluded that communication that is carried out well, beautifully, and systematically can form a person's personal branding. By using communication techniques with the principles of the 5 cannons of rhetoric, a person can more easily persuade and speak well and effectively. In forming a person's personal branding, good and effective communication is needed.

Do CEO Attributes in the Energy Sector Matter in Sustainability Performance? The Moderating Role Performed by Board Gender Diversity

ABSTRACTThis study aims to check how Chief Executive Officers (CEOs) can influence the development of environmental, social, and governance (ESG) performance within the energy sector, considering female directors as a moderator. The study finds that CEO duality has a negative effect on ESG performance, while CEO board membership has positive effect. The results show that female directors negatively moderate the relationship between CEO duality and CEO board membership and ESG performance. This study also provides evidence that an ex‐CEO board chair encourages environmental performance. Additionally, CEO board membership positively influences social performance and has a negative effect on governance performance. Furthermore, the results reveal that female directors negatively moderate the association between CEO duality and environmental and social performance. Finally, the moderating effect of female directors on the relationship between an ex‐CEO board chair and CEO board membership and social and governance performance is negative. These results carry implications for policymakers and managers aiming to optimize corporate governance for improved ESG outcomes. Policymakers should consider regulations that discourage CEO duality and promote balanced leadership structures while simultaneously fostering environments where diverse board compositions can thrive without unintended negative effects. For managers, the findings suggest the need to design governance frameworks that capitalize on the benefits of CEO board membership while addressing the complexities introduced by diverse board dynamics, including the role of female directors. Tailored training and empowerment initiatives for female directors could help unlock their potential to positively influence ESG performance.

‘Old is Gold’? Does CEO Age and Chair-CEO Age Similarity Matter? A Longitudinal Evidence on Corporate R&D Investment Intensity

The study focuses on the essential role of managerial characteristics, particularly the age of chief executive officers (CEOs), in influencing firm investment in research and development (R&D). Despite the significant impact that CEO age can have on organizational outcomes, there has been a notable dearth of research investigating this specific aspect in relation to R&D investment within companies over the past 15 years. As such, this study seeks to address this gap in research by examining the impact of elderly CEO, Chair-CEO age similarity and Chair-CEO elderly-age similarity on R&D investment intensity in Chinese publicly listed companies between 2015 and 2020. By analyzing 1,632 firm-year observations using panel corrected standard errors (PCSE) and Hausman–Taylor estimations, the results indicated that both age similarity between Chair-CEOs and having elderly Chair-CEOs positively contribute to higher levels of R&D investment. The implication for practice is that organizations prioritizing long-term R&D efforts are suggested to have Chairs and CEOs who share a similar age and are at an elderly age level, thus promoting better cooperation, understanding and alignment of strategic goals. This age similarity enhances communication, personal connections and mutual trust, leading to increased information exchange, reduced risk aversion and stronger support for R&D initiatives.

Career embeddedness leads toward innovation: The impact of chief executive officer (CEO) career embeddedness on green innovation

Career embeddedness leads toward innovation: The impact of chief executive officer (CEO) career embeddedness on green innovation

Corporate governance determinants of sustainable manufacturing practice: the case of zero-defect manufacturing in multinational corporations

Corporate governance determinants of sustainable manufacturing practice: the case of zero-defect manufacturing in multinational corporations

Strategic Risk Management and Performance of Commercial State Corporations in Kenya

This study examined the effect of strategic risk management on the performance of commercial state corporations in Kenya. The research explored four key strategic risk management factors: governance risk, reputational risk, external environmental risk, and compliance risk. A descriptive research design was employed, and data were collected from a sample of commercial state corporations operating in Nairobi County. The study utilized both primary and secondary data sources, with structured questionnaires administered to key stakeholders, including finance managers, human resource officers, and chief executive officers. Statistical tools such as multiple regression analysis and correlation tests were applied to determine the relationship between strategic risk management and organizational performance. The findings revealed that governance risk significantly influenced corporate performance, with effective oversight, transparency, and decision-making structures contributing to better organizational outcomes. Reputational risk was found to be a critical determinant of customer trust, investor confidence, and long-term sustainability. The study also established that external environmental risks, such as political instability and economic fluctuations, posed significant challenges to state corporations. Additionally, compliance risk emerged as a vital component, as organizations adhering to regulatory standards demonstrated improved efficiency and reduced legal vulnerabilities. The study concluded that integrating strategic risk management practices into corporate governance frameworks enhances the resilience and performance of commercial state corporations. It recommended that policymakers and corporate leaders strengthen risk assessment mechanisms, enforce regulatory compliance, and develop proactive strategies to mitigate external threats. Furthermore, future research should explore longitudinal analyses of risk management practices and their evolving impact on corporate sustainability.

Pilot CEOs and Corporate Cash Holdings

ABSTRACTThis study examines the effect of a personality trait exhibited by pilot chief executive officers (CEOs), that is, situation awareness, on corporate cash policies. Our results show that firms led by pilot CEOs are more likely to hold higher levels of cash for firms with higher growth opportunities and greater firm risks. The findings suggest that pilot CEOs have greater situation awareness and are more likely to plan ahead to cope with future liquidity needs. We also find that the strength of their situation awareness is associated with pilot certification levels but does not change between the pre‐ and post‐certification periods.

The impact of knowledge management on competitive advantage (A field study at Al- Qutaibi Islamic Microfinance Bank)

This study aims to examine the impact of knowledge management on competitive advantage at Al-Kuraibi Islamic Microfinance Bank. The research problem is about the impact of knowledge management dimensions on competitive advantage dimensions. In this context، the researchers have adopted a descriptive-analytical methodology، and the questionnaire is considered an important tool for collecting primary data. The population of this study encompasses all employees of Al-Kuraibi Bank، which totals 320 employees. A non-random purposive sample included 43 respondents، comprising the chief executive officer، the heads of the sections، department and deputy department managers، branch managers and their deputies، as well as all section heads. The data analysis was accomplished by using SPSS software. Some of the key findings from the study are that knowledge management has a significant effect on competitive advantage، the level of knowledge management and competitive advantage in Al-Kuraibi Islamic Microfinance Bank is very high، the retention of experienced employees with deep knowledge and greater attention to the cost aspect while offering services by the bank are recommended.

Organisational ambidexterity and sustainable value co-creation in a social enterprise: The case of Social Bite

This case focuses on the concept of organisational ambidexterity, its relevance to social entrepreneurs, and its contribution to sustainable value co-creation. It examines how social enterprises must adapt to newly emerging challenges while simultaneously delivering upon their core mission. A Chief Executive Officer recalls how he reacted swiftly to capitalise upon unanticipated opportunities without being deflected from vital routine operations. He was successful in significantly raising the profile – and consequently the economic and social sustainability – of his social enterprise by harnessing a sudden Public Relations opportunity. The case considers how organisational ambidexterity and ‘agility’ can contribute to social entrepreneurship. The concept is explored in the context of Social Bite, an Edinburgh-based social enterprise which provides housing, employment, food, and support to individuals facing homelessness. Finally, the case also considers the relationship between organisational ambidexterity and sustainable value co-creation.

How Does CEO Narcissism Impact the Effectiveness of Advertising on Firm Performance? A Study in the Restaurant Industry Context

The current study investigates the critical role of chief executive officer (CEO) narcissism as an important boundary condition that explains the contrasting results of advertising spending on firm performance. To address this point, two studies are conducted from the companies’ and consumers’ perspectives. Study 1 examines the intangible asset value of advertising by using 352 observations of publicly traded restaurant companies over the past 16 years, revealing that as companies with highly narcissistic CEOs invest a greater amount of advertising, greater firm sales and firm value are induced. To explain the potential reasoning behind the narcissistic CEOs’ performance with advertising, Study 2 compares consumer responses to high versus low narcissism-themed ads, assuming that narcissistic CEOs would frequently deliver CEO-narcissistic messages to the end users and that consumers eventually determine firm sales and value. The results reveal that consumers in the high narcissistic ad condition perceive greater CEO self-confidence, ad spending, company size, ad trust, and attitudes toward the ad than those in the low narcissistic ad condition. The conceptual model confirms that CEO narcissism increases consumer perceptions of CEO confidence and ad spending, resulting in greater trust toward the ad and intention to visit the restaurant.

Inaction is Not an Option: ESG and Family Firms

The article investigates the adoption of ESG (Environmental, Social and Governance) practices among family and non-family firms in India, emphasizing the unique dynamics within family firms. Employing CRISIL’s proprietary ESG scores for 225 of India’s largest listed companies, the study reveals that non-family firms outperform family firms overall, particularly in environmental (E) parameter. Among family firms, family business group-affiliated firms demonstrate superior social performance compared to standalone family firms (SFFs), attributed to their resource availability, public scrutiny and legacy-driven motivations. The research also identifies foreign institutional investor (FII) ownership as a significant factor positively influencing ESG adoption across all firms. This suggests that FII presence encourages sustainable practices, aligning corporate behaviour with global governance standards. Despite their long-term orientation and stewardship values, family firms lag behind non-family counterparts, primarily due to a lack of awareness and structured approaches to ESG integration. The findings underscore the need for tailored policy interventions to promote ESG adoption, especially among SFFs, by addressing resource and knowledge gaps. The article calls for standardized ESG reporting frameworks to ensure transparency and comparability, enhancing investor confidence and driving corporate responsibility. It highlights family firms’ potential as ESG leaders, given their societal embeddedness and multi-generational perspective, urging immediate action to align their practices with global sustainability goals. ‘To create a better future we need to harness collective agreement to focus on net zero commitments. Our purpose is unequivocal in protecting both society and future generations from the consequences of climate change…This is inclusive capitalism in action—inaction is not an option.’ Michelle Scrimgeour, Chief Executive Officer, Legal and General Investment Management, Co-chair, COP26 Business Leaders Group. ( COP26, 2021 )

Do CEO and board characteristics matter in the ESG performance of their firms?

PurposeThis study investigates the impact of chief executive officers (CEOs’) and board members’ personal characteristics on their firms’ environmental, social and governance (ESG) performance.Design/methodology/approachUsing a sample of 120,834 firm-year observations, this study used fixed-effect ordinary least squares regression analysis to empirically identify which characteristics of the CEO and board members are linked to ESG performance.FindingsThe results from analyzing archival data of privately held Finnish firms show that education level positively influences ESG performance, while age and income negatively affect total ESG performance.Research limitations/implicationsThe findings highlight the importance of these characteristics in promoting ESG practices in private firms. Therefore, it will enable regulators to encourage diversity among the board members and the CEO, thereby helping to identify potential areas for improvement in corporate governance and leadership practices. The results also provide insights into how organizations can better align their actions with their values and goals.Originality/valueThis study adds to existing literature on corporate governance and ESG performance by identifying the specific personal characteristics of the directors, such as previous conviction, age, income and marital status, and their influences on ESG performance in privately held firms in Finland.

Crisis Reveals Character: Founder and Founding Family Involvement During Firm Crises

We differentiate between “founder involvement,” “founding family involvement,” and the absence of such involvement in a firm. We maintain that family owners and chief executive officers (CEOs) assume a “familial” identity given family relations within the firm, whereas mere founders, influenced by arms-length relations to commercial stakeholders, embrace the opportunity-seeking “entrepreneurial” identity of an independent maker. We theorize and show how founder and founding family involvement shape the turnaround strategy and performance of firms divergently—from each other and from cases without such involvement—and explicate how the respective effects are moderated by crisis severity and firm age.

Government CEO pay regulation and corporate innovation performance: The role of CEO’s career horizon and shareholding

This study investigates the effect of government pay policy for chief executive officer’s (CEO’s) compensation on corporate innovation (CI). Furthermore, it explores the role of the CEO’s career horizon and shareholding in this nexus. Utilizing the difference-in-differences method to analyze Chinese-listed state-owned enterprises from 2010 to 2020, the baseline findings indicate that government pay policies have had a negative impact on CI. In addition, CEOs with shorter career horizons and higher shareholding demonstrate an enhanced ability to counteract the adverse effects of pay policy, thereby sustaining high levels of innovation. Our findings indicate a necessity for regulatory bodies to re-evaluate mandated constraints on CEO compensation. These restrictions lead to a decline in firm innovation, ultimately affecting shareholder interests. Importantly, the study conclusions remain robust even after rigorous analysis using parallel trend assumptions, propensity score matching, alternative pay policy and innovation metrics, and placebo tests. JEL CLASSIFICATION: J3, M1, K2, O3