Impact of founder CEO and CEO ownership on entrepreneurial orientation, moderating role of CEO narcissism

Founder-CEO Succession and the Paradox of Entrepreneurial Success

In the last few decades, we have developed a substantial body of knowledge about CEO succession. However, except for some studies of family businesses that lack direct applicability to nonfamily CEO succession, the past studies of succession have not examined the very first succession event in a firm, when the Founder-CEO is replaced, on a largescale basis. The critical differences between late...

In Pursuit of Greatness: CEO Narcissism, Entrepreneurial Orientation, and Firm Performance Variance

CEO Education, CEO Turnover, and Firm Performance

We analyze the effects of CEO education on CEO turnover (firing and replacement) and firm performance. Our primary interest is on the role that CEO education plays in a firm’s decision to replace its current CEO, the role that it plays in selecting a new CEO, and on whether CEO education significantly affects performance. We use six main measures of CEO education: whether or not the CEO attende...

CEO Share Ownership and Firm Valuation

We estimate the relation between Tobin’s Q and CEO share ownership with firm and CEO-firm fixed effects. Our results reveal an inverted U-shaped relation only when external pressure for good governance is weak, where the pressure is measured by product market competition and institutional ownership concentration. The inverted U-shaped relation seems to be a manifestation of some CEOs capturing ...

The Burden of Celebrity: the Impact of Ceo Certification Contests on Ceo Pay and Performance

We used the results from Financial World’s widely publicized certification contest, CEO of the Year, to investigate the impact of such contests on firm performance and executive compensation. A certification contest ranks actors on performance criteria that key stakeholders accept as credible and legitimate. We found that certified CEOs received higher compensation than noncertified CEOs when p...