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CEO Power, CEO Compensation, and Firm Performance
Journal of Finance IssuesWe investigate the impact of CEO power on the relation between CEO compensation and firm performance to find how CEO incentive compensation affects firm performance by reducing agency conflicts between managers and shareholders. We measure the CEO pay slice (CPS) for CEO power and the pay-performance sensitivity (PPS) for CEO incentive compensation ...
S M Muyeed Hasan +2 more
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Board composition and CEO power
Journal of Financial Economics, 2014Abstract We study the optimal composition of corporate boards. Directors can be either monitoring or advisory types. Monitoring constrains the empire-building tendency of chief executive officers (CEOs). If shareholders control the board nomination process, a non-monotonic relation ensues between agency problems and board composition.
Tim Baldenius +2 more
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CEO Power and Mergers and Acquisitions
SSRN Electronic Journal, 2014We find CEO power in acquiring firms can explain the occurrence of both large value creation and destruction deals in M&A. Specifically, we find firms with powerful CEOs make fewer deals and the returns on those deals are less dispersed. Firms with powerful CEOs are also less likely to do all cash deals and use a larger proportion of stocks in payments.
Ning Gong, Lixiong Guo
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Incentive Contracts are not Rigged by Powerful CEOs
Critical Finance Review, 2012Morse et al. (2011), henceforth MNS, interpret the data to suggest that more powerful CEOs ex post change their incentive contracts to put greater weight on performance measures that are ex-post more favorable. My paper points out a number of issues with their inference. First and most importantly, MNS do not control for the fact that not just the most
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Powerful CEOs and earnings quality
Managerial Finance, 2021PurposeThis study explores the effect of CEO power on earnings quality. If powerful CEOs make the information environment more opaque, they can easily conceal information to hide self-dealing behavior through earnings manipulation. Conversely, if powerful CEOs who are well-protected create a transparent information environment, they will provide better
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Power to the CEO? Sources of CEO Power and Its Influences on Strategic Choices and Firm Performance
2023Power relations in the upper echelon have been a focal point in strategic management literature. However, the dynamic environment requires rapid decision making, raising the question of whether to centralize power in the CEO. In that respect, this thesis aims to identify the sources of CEO power and its impact on strategic choices and firm performance.
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Female directors and CEO power
Economics Letters, 2018Abstract Beyond the recent studies on boardroom gender diversity, this letter investigates the effect of boardroom gender diversity on CEO power. Using the data of all A-share listed companies on the Shanghai and Shenzhen stock exchanges for 2005–2015 we find reliable evidence that gender diversity on the board is positively associated with CEO power.
Muhammad Usman +4 more
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CEO self-discipline in power use: A key moderator for the effect of CEO power
European Management Journal, 2018Abstract The effect of CEO power depends ultimately on how it is used (i.e., a CEO’s approach to power use), which may vary from one CEO to another. Notwithstanding extensive research on the effect of CEO power on organizational outcomes, researchers have thus far paid very limited attention to how the effect depends on individual differences.
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Corporate diversification and powerful CEOs
American J. of Finance and Accounting, 2023Mahsa Khoshnoud, Fawzi Hyder
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CEO Power: Relinquish or Withhold?
Academy of Management Proceedings, 2016CEO succession is an important event in the life of an organization. It is unavoidable. CEO succession researchers have linked the smooth transition of leadership between CEOs to the positive post ...
Rida Elias, Bassam Farah
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