CEO Tenure and Firm Value
| Item Type | Journal paper |
| Abstract | Our study is the first to provide systematic evidence of a hump-shaped CEO tenure-firm value relation. Cross-sectionally, firm value starts to decline after fewer years of CEO tenure in more dynamic industries, if CEOs are less adaptable to changes, and in the presence of greater labor market frictions. Overall, the dynamics of CEO-firm match quality appear to be a first-order driver of the CEO tenure-firm value association, as explained by CEO characteristics (adaptability), firm/industry characteristics (dynamism), and labor market characteristics that facilitate optimal matching between firms and CEOs. |
| Authors | Schmid, Markus; Brochet, Francois; Limbach, Peter & Scholz-Daneshgari, Meik |
| Journal or Publication Title | The Accounting Review |
| Language | English |
| Subjects | economics finance |
| HSG Classification | contribution to scientific community |
| HSG Profile Area | SOF - System-wide Risk in the Financial System |
| Refereed | Yes |
| Date | December 2021 |
| Publisher | American Accounting Association |
| Volume | 96 |
| Number | 6 |
| Page Range | 47-71 |
| Number of Pages | 25 |
| Publisher DOI | https://doi.org/10.2308/TAR-2019-0295 |
| Official URL | https://doi.org/10.2308/TAR-2019-0295 |
| Contact Email Address | markus.schmid@unisg.ch |
| Depositing User | Beatrix Kobelt-Glock |
| Date Deposited | 05 Jan 2022 13:27 |
| Last Modified | 05 Jan 2022 13:34 |
| URI: | https://www.alexandria.unisg.ch/publications/265513 |
DownloadFull text not available from this repository. (Request a copy)CitationSchmid, Markus; Brochet, Francois; Limbach, Peter & Scholz-Daneshgari, Meik (2021) CEO Tenure and Firm Value. The Accounting Review, 96 (6). 47-71. Statisticshttps://www.alexandria.unisg.ch/id/eprint/265513
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