What is it about?
This paper considers the effects of different CEO demographic factors on firm performance in Australia. We investigate the impact of CEO characteristics on firm performance for the period January 2003 to December 2018 via panel regression models and the event study methodology.
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Why is it important?
The results highlight that the CEO characteristics of gender, CEO–chairperson duality, CEO education level and CEO location have significant managerial effects on firm performance following debt- and equity-related announcements. The CEO characteristics findings add support for the Upper Echelon Theory and provide important implications for board members and human resource departments investigating the efficiency and fairness of CEOs.
Perspectives
The implication of this recent study is two-fold. First, there is a need to document the behaviour of CEOs during the pandemic season. Second, with firms adopting Integrated Reporting, it is important to study how CEOs are maintaining the balance between firm performance and sustainability. Further, the increasing awareness and popularity of digital finance, and the associated emerging technologies such as blockchain and cryptocurrencies is an important facet that may impact the decision-making of CEOs. These areas of investigation we leave to future research.
Dr Krishna Reddy
Toi Ohomai Institute of Technology
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This page is a summary of: An investigation of CEO characteristics on firm performance, Accounting and Finance, December 2021, Wiley,
DOI: 10.1111/acfi.12896.
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