CEO's age and the performance of closely held firms
Identifikátory výsledku
Kód výsledku v 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>
Nalezeny alternativní kódy
RIV/00216208:11640/19:00517849
Výsledek na webu
<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>
Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
CEO's age and the performance of closely held firms
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
CEO's age and the performance of closely held firms
Popis výsledku anglicky
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.
Klasifikace
Druh
J<sub>imp</sub> - Článek v periodiku v databázi Web of Science
CEP obor
—
OECD FORD obor
50204 - Business and management
Návaznosti výsledku
Projekt
<a href="/cs/project/GA14-31783S" target="_blank" >GA14-31783S: Analýza chování firem v měnícím se ekonomickém prostředí</a><br>
Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2019
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
Strategic Management Journal
ISSN
0143-2095
e-ISSN
—
Svazek periodika
40
Číslo periodika v rámci svazku
6
Stát vydavatele periodika
US - Spojené státy americké
Počet stran výsledku
28
Strana od-do
917-944
Kód UT WoS článku
000468364100003
EID výsledku v databázi Scopus
2-s2.0-85062730720