CEOs Of Companies Research Articles

How Much Does the CEO’s Age Impact Corporate Performance Under a Changing Environment?

The recent technological innovations and the consequences of the pandemic are rapidly changing the management paradigm. Organizations that seek to survive and remain competitive must adapt to these changes. One strategy to cope with these environmental changes is to hire a younger CEO. This study aims to empirically analyze how the age of the CEO affects the performance of the firm based on upper echelons theory. Using a sample of 706 CEOs of companies listed on the South Korean public stock market (KOSPI) as of 2023, we found that CEO age is positively related to financial performance. We also found that CEO age is negatively related to risk-taking behavior and innovation. These findings have both practical and theoretical implications, suggesting that the recent shift to the relationship between a long-term perspective and innovation have positive implications. Young CEOs often seek these perspectives and are more willing to be aggressive in investment and risk-taking behaviors in the interests offor an innovative business.

CEOs’ Perceptions of Loneliness in the Workplace: An Exploratory Study

Loneliness among CEOs is a topic that draws the attention of leadership experts, as it was suggested that it’s a less explored topic in leadership studies (Wright et al., 2023). The popular phrase “it’s lonely at the top” suggests that top managers frequently experience loneliness in their roles. Not having someone close to confide in is a challenge for many leaders at work (George, 2015). CEO loneliness can have negative effects both individually (e.g., health, well-being and stress) and organizationally (e.g., commitment, employee perceptions of the CEO and turnover) (Wright et al., 2023; Chen et al., 2021). The aim of this study was therefore to explore how CEOs perceived and experienced workplace loneliness; more specifically, we sought to identify what types of loneliness they encounter most often, what situations may trigger workplace loneliness, and how CEOs cope with loneliness in the workplace, in Norwegian organizational settings. Based on empirical results from 14 in-depth qualitative interviews with CEOs of small and medium-sized companies, it appeared they had experienced state loneliness at work and that none of them had reported trait loneliness. State loneliness often arose in situations such as confidentiality cases, decision-making processes and change management processes. Due to the nature of the CEO role, our participants stated that they often accepted the loneliness in the workplace as part of their role, which might suggest a potential coping strategy that they utilize. Other coping strategies that were found include disconnection techniques and the use of their support networks. Addressing this topic adds value to empirical research on leadership by raising awareness of the challenges of loneliness that business leaders in positions of power, specifically CEOs in a Norwegian cultural context, face in the workplace when performing their duties. It provides insight into the types of loneliness experienced, the situations that can trigger CEO loneliness, and how loneliness in the workplace can be addressed and mitigated.

The Influence of Corporate Governance on Tax Avoidance and The Role of Independent Auditors in Vietnamese Firms

This research addresses how corporate governance mechanisms influence tax avoidance in Vietnamese firms and the role of independent auditors in detecting or mitigating tax avoidance. The purpose of the research is to explore the relationship between corporate governance structures (e.g., independent boards, audit committees) and tax behavior, as well as to assess how auditors interact with these governance mechanisms to ensure tax compliance. A qualitative case study approach was used to analyze six companies from different sectors and governance models (2 state-owned enterprises; 2 family-owned private companies; and 2 publicly listed companies) through 18 interviews conducted between May 2024 and October 2024 with 3 key individuals from each company, including: Independent auditor; Company CEO; Manager or administrator, along with documentary analysis of financial statements and tax filings. The research found that firms with stronger governance (e.g., independent boards and active audit committees) are less likely to engage in tax avoidance, while weak governance structures often lead to more aggressive tax strategies. Independent auditors were more effective in well-governed firms, but faced ethical challenges in weaker ones. These findings are significant because they highlight the importance of strengthening governance frameworks and ensuring auditor independence to reduce tax avoidance and improve corporate transparency in Vietnam.

Compensation peer effects of corporate social responsibility

This article examines the role of CEOs' personal incentives in steering their firms' CSR initiatives following their compensation peers, subsequently influencing their career trajectories within their current firms. Specifically, we find that firms exhibit better corporate social responsibility (CSR) performance if their compensation peer (CP) firms demonstrated superior CSR performance in the prior year (i.e., the CP effect). To mitigate the endogeneity concern, we conduct analyses based on the termination (initiation) of CPs' peer relation with the focal firm, a benchmark test, and an instrumental variable analysis. To establish the mechanisms of internal monetary rewards from their firms and enhanced external career tournaments in the labor market, we show the CP effect is stronger if the focal company CEOs have compensation contracts specifying CSR performance targets, face a larger compensation shortfall relative to their CP counterparts, operate in closer geographical proximity to those CP CEOs, or hire more compensation consultants. Furthermore, we find that the probability and quantity of CSR contracts received by focal firms' CEOs increase with CPs' lagged CSR. CEOs receive higher compensation than those in CP firms after they deliver better CSR performance than their CPs. Overall, our paper highlights the role of CEOs' personal incentives in steering their firms' CSR initiatives, subsequently influencing their career trajectories within their current organizations.

IT IS THE QUALITY OF OUR CHARACTER THAT DETERMINES OUR PERFORMANCE AND RESULTS

AbstractThe author, Leader to Leader’s editor‐in‐chief, examines the rapid changes in today’s society, and how leaders react to and lead through these changes. She nods to the ancient Greek philosopher Heraclitus (c. 535–475 BC), and begins with a quotation from former Ford Motor Company CEO Alan Mulally. She also quotes from Leader to Leader’s founder, Frances Hesselbein, in her 2005 column “The Leaders We Need”: “In the end, it is the quality and character of the leader that determines the performance, the results.” An important distinction in how leaders adapt and lead through change is to not compromise our values and ethics for the sake of expediency. Recalling one particular example drawn from a story told by a client about someone they had coached, McArthur writes, “Yet, in the end, the leader chose to bend just a touch to meet goals and stay employed rather than to live the values agreed upon by the leadership team and committed to by the entire company.”

Little emperor CEOs: Firm risk and performance when CEOs grow up without siblings

Using hand-collected data on the CEOs of Chinese companies, we find that managers who grow up without siblings are associated with riskier firms and worse performance. Our analysis exploits regional and time variation in China's compulsory one-child policy as a shock to fertility rates. Consistent with explanations that only-children have not experienced competition among siblings, we show that firms led by only-child CEOs underperform when industry competition is stronger. Our findings suggest that fertility policies affect the supply of managerial capital and, consequently, corporate policies and performance.

Gender diversity and climate disclosure: a tcfd perspective

AbstractThe paradigm of corporate environmental disclosures aimed at investors developed in 2017 with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. Existing literature on social responsibility disclosures points to gender diversity on the board of directors as an influencing factor. This study aims to assess the influence of gender diversity in climate-related financial disclosures, as recommended by the TCFD based on a sample of 27 companies operating within the sectors of electricity, oil, coal and gas, water, and alternative energy that have announced their adherence to the recommendations from 2017 to 2021. By applying a linear regression model, the results indicate the presence of a positive association between the level of TCFD disclosures and board gender diversity, as well as other factors, such as company size, CEO duality, and general liquidity. However, the influence of board gender diversity on corporate reporting based on the TCFD recommendations suggests that the commitment of boards to the reporting of climate change risks and opportunities is not significantly dependent on gender diversity, as the presence of women in the Boards is favorable for the reporting but without a significant impact on the level of disclosures. This research offers insights into sustainability reporting practices, focusing on a relatively new perspective of reporting climate-related financial topics and their determinants. The findings hold implications for organizational leaders and stakeholders, mainly investors, as these recent sustainable reporting practices are challenging but also bring new opportunities related to transparency towards climate-related issues.

Leadership Features of Business Leaders

Leadership can be considered as one of the most important topics in human sciences, as it answers the fundamental question of how to organize collective effort. Simultaneously, it poses a key component of organizational effectiveness. This article seeks to identify a common pattern of leadership features among a group of selected founders or CEOs of ground-breaking companies. To do so, an online survey has been conducted in the UK with N = 300 respondents. The results show that the selected leaders can be associated with both transformational and democratic leadership styles. In addition, their pattern of leadership features includes influence, power, and emotional intelligence. Lastly, the findings imply that using power and influence to get things done along with an inspiring confidence are perceived in general as outstanding leadership features.

Firm leverage and employee pay: The moderating role of CEO leadership style

We investigate how a CEO's leadership style moderates the relationship between leverage and average employee pay. We first show that the relationship between leverage and average employee pay is negative, consistent with the leverage disciplinary hypothesis. Next, we examine how CEO leadership style moderates this negative effect. We find that CEOs with more charisma reduce the disciplinary effect of leverage. The humane CEOs of companies with more debt sharpen the disciplinary effect by paying their employees less for increased risk of job loss that comes with high leverage. An important policy implication is that CEO leadership style can influence the outcome of labor management negotiations regarding employee pay.

The impact of media attention, board independence on CEO power, and ESG in state-owned enterprises

This paper explores the interrelationships among the three key factors influencing the environmental context. Analyzing data from listed Chinese companies between 2012 and 2021, the study results found that excessive power of the state-owned company's CEO can hinder sustainable corporate performance. Furthermore, the independence of the board of directors cannot moderate the negative impact of the CEO's excessive power on environmental, social, and governance (ESG) performance due to “regulatory paralysis,” resulting in a lack of board effectiveness. The results of the constructed regression models indicate that Chinese state enterprises’ governance can be improved by attracting media attention to promote ESG performance. In addition, female executives as a factor lead to heterogeneity in the role of CEO power on ESG.

Biographer’s Appraisal in Joko Widodo Biography “Man of Contradiction and the Struggle to Remake Indonesia”

This study explores the biographer’s appraisal towards Jokowi’s contradiction and struggle to remake Indonesia. The data were obtained purposively from the chapter five of the biography “Man of Contradiction: Joko Widodo and the Struggle to Remake Indonesia” (2020) and were analyzed by applying Martin and Rose’s appraisal framework (2007). The findings reveal that positive judgments were used to assess Jokowi's actions when he became his company CEO, business association chairman, Surakarta mayor, Jakarta governor, and Indonesia president; and negative judgments to criticize his leadership style and his administration’s weaknesses and strengths. The positive appreciation was given to Jokowi’s efforts on his decision to build infrastructures throughout Indonesia, while negative appreciation on Jokowi's administration that was deemed to have covered up cases of deaths and victims of the COVID-19 pandemic. In addition, to indicate his feelings towards Jokowi, the biographer uses affect that covers the desires, self-confidence, worry, fear, happiness, sadness, security, insecurity, and unhappiness Jokowi experienced during his presidential administration.

Pengaruh CSR, Technology dan CEO Education terhadap Profitabilitas Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

This research aims to determine the influence of CSR, Technology and CEO Education on company profitability. The sample used in this research is manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the period 2017 - 2022. The independent variables in this research are CSR, Technology, CEO Education and the dependent variable is company profitability. The total research sample was 26 manufacturing companies using purposive sampling. The empirical results of this research use the eviews 9 program with panel data regression. Based on panel data regression results, it shows that Technology has an influence on company profitability, while CSR and CEO Education have no influence on company profitability. . It is hoped that the results of this research can be a reference for companies and investors to increase company profitability.

Pengelolaan Akun Instagram CEO Telkomsel @hendrisjam

Building a positive company reputation can be done by company's CEO using social media. This research aims to understand how Telkomsel implements CEO communication as public relations strategy in managing CEO Telkomsel @hendrisjam's Instagram account. This research uses the Public Relations Strategy theory by Cutlip Center (2013). This research used qualitative approach with descriptive research and data collection techniques which were conducted through in-depth interviews with one key informant, two expert informants, and four supporting informants, also through non-participant observation and document study. Based on the research results, it was found that Telkomsel's public relations implemented a special strategy in managing their CEO's Instagram account which consisted of five stages, such as secondary analysis for new innovations, setting more specific activity goals, determining target audiences, strengthening HR expertise to implement activity planning, and program evaluation. The final conclusion is that Telkomsel's positive reputation can be built through personal branding that the CEO communicates on Instagram according to the goals of this activity, and the perception tone obtained from followers is also positive.

Board Independent, Firm Size, CEO Ownership, and Accounting Conservatism: Evidence Banking Company in Indonesia

The aim of this study is to provide empirical findings regarding a range of determinants that may impact accounting conservatism. Specifically, the research will examine the effects of company size, CEO ownership, and independent boards. Secondary data, specifically information derived from annual financial reports, is utilized in this study. Information for financial reports is acquired from the IDX data stream and website. From 2013 to 2022, the population of this study comprises all banking institutions listed on the Indonesia Stock Exchange. Significantly positive effects of board independence and company size on accounting conservatism are demonstrated by the findings of this study. Furthermore, CEO ownership has a significant negative impact on accounting conservatism, according to the findings of this study. The findings of this study present a practical illustration for stakeholders regarding the responsibilities of shareholders, which may prove beneficial in overseeing the organization’s operations. This research demonstrates that when a company is owned by its CEO, its conservatism decreases. The findings of this research have implications for decision-makers who rely on financial reports. Stakeholders can place trust in managers who provide information about the company through financial reports that reflect its condition.

Major investment signals keen interest in psychedelics for mental health care

This month's announcement of up to $285 million in private placement financing for a leading developer of psychedelic drug therapies signals an important validation of this drug sector's role in mental health treatment, the biotechnology company's CEO told MHW last week.

Barriers to green human resources management (GHRM) implementation in developing countries: evidence from China.

Because of the current climate adaptation and long-term viability advancements, campaigners both locally and globally are pressuring businesses to embrace green practices. But there are challenges to putting green policies into action. The goal of this research was to analyze the most significant challenges encountered by Chinese businesses when attempting to implement environmentally responsible HR practices (GHRM). There were seventeen setbacks found, and these were sorted into five main groups. In order to pilot test the survey questions, we spoke with twenty experts in the fields of human resources and environmental management. One hundred and ninety-nine questionnaires were subsequently distributed to a random sample of company CEOs (19), HR managers (30), CFOs (30), and HR directors (40). The PSI approach was used to establish a hierarchy of the most significant obstacles and their subobstacles. Twenty-three percent of GHRM barriers in the research area were attributable to economic factors. The absence of financial resources emerged as the most crucial obstacle overall (with a score of 0.99) and among the subbarriers. The second most common barrier was found to be political and regulatory (20.1%), while the least common was found to be cultural and educational (18.2%). Government and financial institutions can help businesses overcome the most significant obstacles by offering low-interest loans for the development and implementation of sustainable business strategies and initiatives. As such, this study complements the current body of literature on green HR. Examining the challenges faced when trying to put GHRM into practice in a poor country context, this helps policymakers and practitioners in China and other similar economies understand environmental innovation barriers and develop policies to overcome them.

LGBT CEOs and stock returns: Diagnosing rainbow ceilings and cliffs

This study is the first to investigate the implications of lesbian, gay, bisexual, and transgender chief executive officers (LGBT CEOs) for stock performance, using an exhaustive sample of 26 LGBT publicly listed company CEOs since 2000. Firms with openly LGBT CEOs generate a statistically and economically significant monthly alpha of 0.69%− 1.08%, robust to portfolio weighting schemes, estimation frequency, multi-factor asset-pricing models, multicollinearity, sectoral allocation effects, and in subsamples in the United States and globally. The results imply that a “rainbow ceiling” exists with regards to LGBT executives, and that companies they lead are persistently undervalued due to discrimination by investors. LGBT CEOs on average represent small growth stocks with poor past performance, supporting the “rainbow cliff” hypothesis that the LGBT community is overrepresented in precarious leadership positions. Portfolios formed of stocks with LGBT CEOs robustly outperform broad market indices, evidencing attractiveness for ethical investment from both selfish and social perspectives.

The causal effect of corporate governance on employee satisfaction

AbstractWe investigate the causal effect of increasing shareholder rights on employee satisfaction. To ensure causality, we use close shareholder votes on antitakeover provisions included in the Entrenchment Index (E‐Index) as exogenous shocks to the corporate governance of a company. A 1‐point increase in shareholder rights on the E‐Index scale causes a 10% decrease in employee satisfaction. The channels that drive our results are decreases in employees' opinion about firm culture, in their view about the company's CEO, in the number of employees, and in capital expenditures.

There is no such thing as a predatory journal

Key points A journal is inanimate and incapable of predation, hence there is no such thing as a predatory journal. The predators are the publishing company CEOs, journal owners and other complicit people. Those committing fraud and identity theft should be prosecuted. Less time and effort should be spent on scholarly investigations. More time and effort should now be devoted to prosecutions.

중소기업 CEO의 기업가정신과 사업성과에 관한 탐색적 연구

The purpose of this study is to empirically analyze the effect of entrepreneurship of CEOs of small and medium-sized companies on business performance. SMEs are exposed to many risk factors from start-up to growth, and they can survive in the competitive market when they are well utilized by building know-how to systematically manage and overcome these risk factors. This study focused on the situation in which CEOs' future-oriented, creative ideas and entrepreneurship that takes risks will affect business performance. In particular, we would like to explore whether small and medium-sized CEOs play a mediating role in entrepreneurship and business performance by paying attention to the CEO's communication style. In this study, frequency analysis, correlation analysis, reliability analysis, and regression analysis were conducted on 109 CEOs of small and medium-sized companies The results of the study are as follows. First, it was confirmed that the innovativeness of entrepreneurship does not affect financial performance as to whether it will have a positive (+) effect on business performance, but has a positive (+) effect on non-financial performance. Second, it was confirmed that entrepreneurship's innovativeness and risk taking had a positive (+) effect on financial and non-financial performance. Third, it was confirmed that the communication style that mediates the relationship between entrepreneurship and business performance has a complete mediating effect. This study identified that CEO communication styles have a positive effect on the business performance of SMEs, and communication education should be important in future education for CEOs of SMEs along with entrepreneurship education.