Impact Of CEO Characteristics Research Articles

The Impact of CEO Characteristics on the Financial Performance of Family Businesses Listed in the Euronext Exchange

This paper identifies the CEO characteristics that have an impact on the performance of family businesses listed in the Euronext in the post-COVID 19 period. CEO characteristics are evaluated on two dimensions, i.e., personal characteristics and corporate governance mechanisms. A sample of 137 firm-year observations from Portugal, Luxembourg, the Netherlands, Ireland, France, and Belgium was chosen. CEO attributes of age, gender, education, and family membership were combined with corporate governance mechanisms of ownership concentration, CEO duality, CEO directorships, and CEO tenure, to predict return on assets and return on equity, using OLS regression. GMM estimation and Two-Stage Least Squares were employed to establish the robustness of the results. Among CEO personal characteristics, CEO family membership has a positive impact on return on assets, and a positive impact on return on equity. Among corporate governance mechanisms, CEO duality had a negative impact on return on assets, and a negative impact on return on equity. CEO ownership, and CEO tenure had a positive impact on return on assets, and a positive impact on return on equity. This paper’s value lies in its evaluation of the under-researched area of family businesses of Euronext-listed firms. It can be used by family businesses in the region, for the selection and training of CEOs to fulfill the goal of achieving superior financial performance.

The Impact Of CEO Characteristics And Political Connections On Investment Efficiency: Evidence From An Emerging Market

The Impact Of CEO Characteristics And Political Connections On Investment Efficiency: Evidence From An Emerging Market

Impact of CEO Characteristics on Capital Structure: A Systematic Literature Review

Impact of CEO Characteristics on Capital Structure: A Systematic Literature Review

The Modified Impact of CEO Characteristics on the Relationship Between Internal Audit Quality and Firms Performance in The Jordanian Corporations

The study aim to identify the modified impact of the characteristics of the CEO on the relationship between the quality of internal auditing and the performance of the Jordanian corporations. The study population consisted of Jordanian corporations listed on Amman stock exchange. In order to achieve the objective of the study they adopted the descriptive analytical approach, by developing the questionnaire that was distributed. The study populations consist of all Jordanian corporations and 250 questioners was distributed in the study sample consisting of financial manager, internal auditor and heads of accounting department 206 questionnaire were received of which 183 were valid for analysis. Used the SPSS program in analysis the study tool in addition to some descriptive statistical methods (arithmetic, means and standard deviation).The study reached a number of results , most important of which are there is statistically significance level the quality of internal audit and positively effect the performance of Jordanian corporations, in addition the characteristic of the CEO passively effect the reaction ship between the quality of internal auditing and the performance of the Jordanian corporations. The study also came out with a number of recommendations, the most important of which were the need to strength and improving the internal audit function in Jordanian companies, increasing its quality, and focusing more on the characteristics and attributes of the CEO. As well as the need for companies to keep abreast of developments and techniques related to internal auditing and use them in internal audit operations in Jordanian corporations.

The Impact of CEO Characteristics on Organizational Culture and on the Silo Effect

Purpose – The purpose of the study is to understand the impact of psychological and observable CEO characteristics on organizational culture and silos. Design/methodology/approach – A questionnaire was built using information collected during the literature review stage and emailed to the firm decision-makers. Using survey data from 185 small-to-medium-sized firms from two sectors – accommodation and food, beverage, and tobacco – a structural equation model was applied to determine if the theoretical model could be confirmed or not, and the partial least squares technique was used to check if certain relationships exist. Findings – General support was found for a theoretical model in which CEO personality traits, particularly conscientiousness, openness to experience, and extraversion, influence both organizational culture and silos, and observable variables such as age and management tenure influence the ability of the firm to develop internal coordination competences, thus inhibiting the appearance of silos. Originality/value – The main contribution to the knowledge lies in the combination of different theoretical frameworks and the empirical approach used to test the importance of CEO characteristics in organizations and in their ability to develop cooperation networks. Keywords – CEO, Big Five Framework, Competing Values Framework, Organizational Culture, Silos.

Impact of CEO Characteristics on Capital Structure of Non-Financial Listed Companies in Sri Lanka

Impact of CEO Characteristics on Capital Structure of Non-Financial Listed Companies in Sri Lanka

Impact of CEO characteristics on firm performance: evidence from China listed firms

ABSTRACT This paper investigates the influence of CEO characteristics on firm performance. Our sample data consists of 10,446 observations from Chinese listed companies taken during the period 2008–2016. After applying a Quantile Regression approach, we find that CEO age has no obvious impact on firm performance, a finding that clearly differs from previous research. CEO tenure only has a highly significant negative impact on high valuation firms (at the 75th and 90th). Furthermore, while CEO political ties are positively related to low valuation firms, the exact opposite effect is evidenced in relation to high-performance firms.

What Is the Impact of CEO Characteristics and Ownership on Firm’s Return on Investment (ROI)?

In this paper, the main objective is to examine whether CEO characteristics have an impact on firm performance. Does CEO’s age, gender, compensation, or ownership influence return on investment? The data consists of 19868 observations that only include firms on the S&P 500 between the period 1992 to 2019. By using a linear regression model, the results show that CEO characteristics have an impact on firm performance. CEO gender and ownership are positively correlated with ROI while CEO age and compensation are uncorrelated with ROI. However, only compensation and ownership have significant effect on the performance of the firm. Overall, firms should consider the candidates’ characteristics during the recruitment process of a new CEO.

Capital Structure and CEO’s Personal Characteristics: Evidence from Jordan

The aim of this study is to examine the effect of the CEO’s personal characteristics (overconfidence, age and gender) on the capital structure choices among non-financial Jordanian companies over the period 2008-2013. We use panel data for 201 non-financial companies listed on the Amman Stock Exchange (ASE). The results of our study reveal that CEOs’ overconfidence and gender are positively and significantly related to the leverage ratio as a proxy for capital structure. However, age is negatively and significantly associated with capital structure. The findings of the study should be of interest to policymakers, regulators and academics regarding the impact of CEO characteristics on the capital structure not only in Jordan but also in other developing countries. Further, the findings of this study are likely to be of interest to investors, since we introduce new empirical evidence about companies’ capital structure in Jordan. Our study contributes to research into capital structure by examining another dimension, that is, the effect of the CEO’s personal characteristics (age and gender), which has not been previously investigated in capital structure decisions and thus provides new empirical evidence in this area.

The Impact of CEO Characteristics on Corporate Social Responsibilities

The Impact of CEO Characteristics on Corporate Social Responsibilities

Why do Boards Differ? Because Owners Do: Assessing Ownership Impact on Board Composition

AbstractManuscript TypeEmpiricalResearch Question/IssueDoes the ownership structure of a firm, specifically the aggregation of the different ownership types within each firm, relate with the composition of its board?Research Findings/InsightsUsing archival data from a sample comprising 1,487 U.S. firms, we find that the composition of the individual profiles of directors on corporate boards (i.e., independent, affiliated, or insider) match a firm's aggregated ownership configuration (institutional, corporate parent, family‐entrepreneur control) even after parsing out the impact of CEO characteristics, firm size, and performance. Further analyses elaborate on the specific relationship between each director profile and ownership types present within the firm.Theoretical/Academic ImplicationsThis study builds upon three conceptual perspectives: agency, resource dependency, and behavioral. We argue that each type of ownership has differing imperatives and may prefer different types of directors to fulfill their governance needs. The paper illustrates that the relationship between corporate governance, specifically board composition, and ownership is a comprehensive phenomenon that is best understood through multiple theoretical lenses.Practitioner/Policy ImplicationsThis study shows that ownership and board composition are not substitutable governance mechanisms as commonly understood, but might be complementary mechanisms. A finding that governance mechanisms are complementary implies that regulatory or institutional pressures to modify board composition with the addition of directors with similar profiles may affect the governance in unforeseen ways.

An Empirical Investigation of the Relationship between Corporate Governance Mechanisms, CEO Characteristics and Listed Companies’ Performance

This paper examines the impact of corporate governance mechanisms and CEO characteristics on U.S. listed companies’ performance. The corporate governance mechanisms are: shareholdings of insiders, shareholdings of the institutional investors and mutual funds, board size and the number of independent directors in the board. We used as performance measures the following: Tobin’s Q, return on assets, return on equity, price to book value and price earnings ratio. Additionally, we considered the impact of CEOs characteristics on companies’ performance. These characteristics are: CEO status regarding the possibility of holding multiple functions, the CEO’s possibility of being the founder of the company that he manages, state of residence, age and tenure in CEO position. Also we controlled for firm size, firm age and gearing. Our findings suggest mixed results between corporate governance and firm performance.

The Impact of CEO Characteristics on Corporate Sustainable Development

ABSTRACTThis study explores the relationship between CEO demographic characteristics and consistency in corporate social responsibility (CSR) performance among firms. The sample is based on results from major ranking agencies between 2005 and 2010. A total of 661 firms were included in the sample with 392 observations in total. The results indicate that firms' CSR performance, as measured by the consistency of their CSR rankings, is associated with their CEOs' educational specializations in Master's‐level business administration (MBA) and science (MSc). In addition, CEO tenure and gender are shown to affect firms' CSR performance. Furthermore, a firm's number of employees also has a significant relationship with its CSR performance. The results are encouraging for supporting universities' efforts to integrate CSR issues into their curricula. Copyright © 2012 John Wiley & Sons, Ltd and ERP Environment.

The Impact of CEO Characteristics on Corporate Social Performance

While there are growing bodies of research examining both the differences between strongly and poorly socially performing firms, and the impact of firm leaders on other strategic outcomes, little has been done in examining the effect of firm leaders on corporate social performance (CSP). This study directly addresses this issue by using upper echelon theory, and the KLD Research Analytics CSP ratings, to show that observable CEO characteristics predict differences in CSP between firms, even when firm and industry characteristics are controlled for. Using a sample of 650 public US firms I find that strong or exemplary CSP, as measured by the strengths categories of KLD’s ratings, is positively related to the CEO having a bachelor’s degree in humanities, having a breadth of career experience and being female. I find that KLD strength ratings are negatively related to the CEO having a bachelor’s degree in economics and to their level of short-term compensation. Preliminary tests of causality support the assertion that these effects reflect CEO discretion rather than being an artifact of reverse causality. Significant relationships between the CEO characteristics and poor social performance as measured by the concerns categories of KLD’s ratings are not found. This suggests that CEOs have more discretion in influencing strong and exemplary social performance than in impacting poor CSP. Implications, particularly for economics education, are discussed. While there are many fruitful directions for future research, the benefits and challenges to conducting similar studies in other countries is focused upon to correspond to the global nature of this special issue.