CEO DIVORCE AND FIRM OPERATING PERFORMANCE

被引：4
|
作者：
Kleindienst, Ingo [1 ]
Abreha, Kaleb Girma [2 ]
Schweizer, Denis [3 ]
Proelss, Juliane [3 ]
Cserpes, Tunde [4 ]
机构：
[1] Aarhus Univ, Sch Business & Social Sci, Dept Management, Strategy & Int Business, Aarhus, Denmark
[2] World Bank, Washington, DC USA
[3] Concordia Univ, Finance, Montreal, PQ, Canada
[4] Aarhus Univ, Sch Business & Social Sci, Dept Management, Strategy & Entrepreneurship, Aarhus, Denmark
来源：
ACADEMY OF MANAGEMENT DISCOVERIES | 2022年 / 8卷 / 04期
关键词：
UPPER ECHELONS; WORK CONFLICT; MANAGERIAL;
D O I：
10.5465/amd.2020.0031
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
We examine how CEO divorce affects firm operating performance. To this end, we use population-level data of CEOs in Denmark over the 2000-2012 sample period. Applying a difference-in-differences research design, we study matching pairs of firms with married and divorcing CEOs. We find that CEO divorce is associated with significant underperformance-as measured by operating return on assets (OROA) and industry -adjusted OROA-but only under specific circumstances: in small firms, in high-growth industries, when children are present in the CEO household, and when the income differ-ence between the CEO and spouse is high. Overall, in addition to social implications, we find that CEO divorce can have significant economic ramifications for firms.
引用
收藏
页码：561 / 584
页数：24
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