Replication data for: Does the Market Value CEO Styles?

Principal Investigator(s):  View help for Principal Investigator(s) Antoinette Schoar; Luo Zuo

Version:  View help for Version V1

Name File Type Size Last Modified
  P2016_1031_data 10/12/2019 11:02:AM
LICENSE.txt text/plain 14.6 KB 10/12/2019 07:02:AM

Project Citation: 

Schoar, Antoinette, and Zuo, Luo. Replication data for: Does the Market Value CEO Styles? Nashville, TN: American Economic Association [publisher], 2016. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113449V1

Project Description

Summary:  View help for Summary We study how investors perceive the skill set that different types of CEOs bring into their companies. We compare CEOs who started their careers during a recession with other CEOs. We show that the announcement return around the appointment of a recession CEO is very significant and positive, and this positive market reaction is driven by cases where a recession CEO replaces a non-recession CEO. Our results indicate that the market assigns a positive and economically meaningful value to a recession CEO, suggesting that there is a limited supply of these types of CEOs in the executive labor market.

Scope of Project

JEL Classification:  View help for JEL Classification
      E32 Business Fluctuations; Cycles
      G14 Information and Market Efficiency; Event Studies; Insider Trading
      G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
      G34 Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
      M12 Personnel Management; Executives; Executive Compensation
      M52 Personnel Economics: Compensation and Compensation Methods and Their Effects


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V1 [2019-10-12]

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