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CEO's age and the performance of closely held firms

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F67985998%3A_____%2F19%3A00504913" target="_blank" >RIV/67985998:_____/19:00504913 - isvavai.cz</a>

  • Alternative codes found

    RIV/00216208:11640/19:00517849

  • Result on the web

    <a href="http://dx.doi.org/10.1002/smj.3003" target="_blank" >http://dx.doi.org/10.1002/smj.3003</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.1002/smj.3003" target="_blank" >10.1002/smj.3003</a>

Alternative languages

  • Result language

    angličtina

  • Original language name

    CEO's age and the performance of closely held firms

  • Original language description

    Using detailed ownership and financial information from a large sample of owner‐managed private firms in three Western European countries, this paper examines the relationship between CEO's age and firm's performance. Tracking firms over time, we find that as a CEO ages, the firm experiences lower investment, lower sales growth, and lower profitability, but also higher probability of survival, suggesting a trade‐off between the managerial approaches of younger and older CEOs. These results are stronger in industries more reliant on human capital, such as service and creative industries. Our evidence also suggests that regional financial development moderates the relationship between a CEO's age and a firm's performance by facilitating the reallocation of assets from firms owned by older CEOs to firms owned by younger CEOs.

  • Czech name

  • Czech description

Classification

  • Type

    J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database

  • CEP classification

  • OECD FORD branch

    50204 - Business and management

Result continuities

  • Project

    <a href="/en/project/GA14-31783S" target="_blank" >GA14-31783S: Firm behavior in changing economic environment</a><br>

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2019

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Name of the periodical

    Strategic Management Journal

  • ISSN

    0143-2095

  • e-ISSN

  • Volume of the periodical

    40

  • Issue of the periodical within the volume

    6

  • Country of publishing house

    US - UNITED STATES

  • Number of pages

    28

  • Pages from-to

    917-944

  • UT code for WoS article

    000468364100003

  • EID of the result in the Scopus database

    2-s2.0-85062730720