Abstract

http://ssrn.com/abstract=1772873
 
 

Citations (6)



 


 



CEO Mobility and the CEO-Firm Match: Evidence from CEO Employment History


Harley E. Ryan Jr.


Georgia State University - Department of Finance

Lingling Wang


Tulane University - Finance & Economics

July 16, 2012


Abstract:     
We use data on the employment histories of CEOs to examine the relation between the CEO’s labor-market mobility and the CEO-firm match. Mobile CEOs match with firms that exhibit poor performance, face revenue shocks, and offer risk-sensitive compensation. At these firms, mobile CEOs increase shareholder value, improve operating performance, increase performance volatility, increase idiosyncratic equity risk, and alter asset structure. Our results suggest that mobile CEOs are fundamentally different from stationary CEOs and that the board recognizes these differences ex ante. The firm’s needs and the CEO’s attributes influence the CEO-firm match, and this match influences firm value and strategy.

Number of Pages in PDF File: 55

Keywords: CEO Experience, CEO-firm Match, Firm Performance, Firm Policies, Employment History

JEL Classification: G30, G32, G34, J6

working papers series





Download This Paper

Date posted: March 1, 2011 ; Last revised: July 18, 2012

Suggested Citation

Ryan, Harley E. and Wang, Lingling, CEO Mobility and the CEO-Firm Match: Evidence from CEO Employment History (July 16, 2012). Available at SSRN: http://ssrn.com/abstract=1772873 or http://dx.doi.org/10.2139/ssrn.1772873

Contact Information

Harley E. Ryan Jr.
Georgia State University - Department of Finance ( email )
University Plaza
35 Broad Street, Suite 1221
Atlanta, GA 30303-3083
United States
404-651-2674 (Phone)
404-651-2630 (Fax)
Lingling Wang (Contact Author)
Tulane University - Finance & Economics ( email )
A.B. Freeman School of Business
7 McAlister Drive
New Orleans, LA 70118
United States
Feedback to SSRN


Paper statistics
Abstract Views: 1,184
Downloads: 210
Download Rank: 84,890
Citations:  6

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.390 seconds