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
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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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
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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