Download or read book The Effect of CEO s General Ability on Company Performance written by Leila Zbib and published by . This book was released on 2019 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: I show that Chief Executive Officers (CEOs) that have accumulated general managerial skills through lifetime work experience demonstrate enhanced performance in the takeover market, as measured by market reactions to the deal. These reactions are more pronounced when the CEO acquires small, but complex firms, suggesting target selection as an underlying mechanism. I find no evidence that the effect stems from the structure of the deal or the CEO's past M&A activity. I also find that the documented increase in innovative activity for firms with high general ability is heightened when the CEO makes acquisitions. In sum, the evidence suggests that the increased pay for generalist CEOs is partially justified by their performance in the takeover market. I also provide evidence that CEOs with broad experience in their background are more likely to utilize discretionary accruals than CEOs with focused experience. This appears to be a result of transitions to CEOs with high general ability and not simply a selection of these CEOs by firms that utilize discretionary accruals extensively. Two mechanisms appear to underlie this result. First, CEOs with general ability tend to manage earnings when more options are exercised. Second, CEOs with high general ability appear more willing to bear the risk inherent in the use of discretionary accruals given their enhanced tolerance for failure stemming from outside career options.

Download or read book Effects of CEO Background on Compensation and Performance written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The compensation of Chief Executive Officers (CEOs) has received a lot of attention in academic research and is often the object of controversial debates. This thesis investigates the effect of the background of newly appointed CEOs on compensation and firm performance. Based on findings from previous research, predominantly examining CEO remuneration in the United States, the effect of CEO succession origin and CEO general ability on total compensation is assessed in a sample of large public companies in Switzerland, Germany, the United Kingdom and the Netherlands. The results show that CEO succession origin does not seem to influence total compensation, whereas general ability is positively related to total pay. Furthermore, the quantitative analysis suggests, that CEO general ability, as a function of its levels, influences firm performance. Moderate levels of general ability seem to have a positive impact on firm performance, while too high levels of CEO general ability seem to negatively influence firm performance.

Download or read book Searching for a Corporate Savior written by Rakesh Khurana and published by Princeton University Press. This book was released on 2011-09-19 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate CEOs are headline news. Stock prices rise and fall at word of their hiring and firing. Business media debate their merits and defects as if individual leaders determined the health of the economy. Yet we know surprisingly little about how CEOs are selected and dismissed or about their true power. This is the first book to take us into the often secretive world of the CEO selection process. Rakesh Khurana's findings are surprising and disturbing. In recent years, he shows, corporations have increasingly sought CEOs who are above all else charismatic, whose fame and force of personality impress analysts and the business media, but whose experience and abilities are not necessarily right for companies' specific needs. The labor market for CEOs, Khurana concludes, is far less rational than we might think. Khurana's findings are based on a study of the hiring and firing of CEOs at over 850 of America's largest companies and on extensive interviews with CEOs, corporate board members, and consultants at executive search firms. Written with exceptional clarity and verve, the book explains the basic mechanics of the selection process and how hiring priorities have changed with the rise of shareholder activism. Khurana argues that the market for CEOs, which we often assume runs on cool calculation and the impersonal forces of supply and demand, is culturally determined and too frequently inefficient. Its emphasis on charisma artificially limits the number of candidates considered, giving them extraordinary leverage to demand high salaries and power. It also raises expectations and increases the chance that a CEO will be fired for failing to meet shareholders' hopes. The result is corporate instability and too little attention to long-term strategy. The book is a major contribution to our understanding of corporate culture and the nature of markets and leadership in general.

Download or read book 8 Steps to High Performance written by Marc Effron and published by Harvard Business Press. This book was released on 2018-07-17 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The steps you need, for the results you want. There's no shortage of advice out there on how to perform better, and better than others, at work. The problem is knowing which methods are actually proven to work--and how you should act on them to get the best results. In 8 Steps to High Performance, talent expert and bestselling author Marc Effron cuts through the noise with his signature "science-based simplicity" approach to identify what matters most and show you how to optimally apply your time and effort to boost your performance. It turns out that higher performance comes from doing many things well--but some of those things are not in your power to change. Effron reveals the eight key factors you do control and practical steps for improving yourself on each one. You’ll learn: How to set goals that create higher performance Which behaviors predict higher performance in different situations How to quickly develop the most important capabilities Who to connect with and why How to understand and adapt to your company's strategy Why you sometimes shouldn’t be the "genuine" you How to best manage your body to sustain your performance How to avoid management fads that distract you from high performance Research-based, practical, and filled with self-assessments, tools, and templates to support your performance goals at work, this short, powerful book will help you and anyone on your team deliver outstanding results.

Download or read book Empirical Research in Banking and Corporate Finance written by Stephen P. Ferris and published by Emerald Group Publishing. This book was released on 2022-09-12 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical Research in Banking and Corporate Finance is the 21st volume of Advances in Financial Economics and deals with International Corporate Governance. Explored in detail are the role of corporate cultures, social responsibility, stock liquidity, securitization, leveraged buyouts and the cost of private debt.

Download or read book Powerful CEOs and Their Impact on Other Firms Corporate Performance written by Frank Eymann and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, I try to assess the influence of a shift in CEO status in one firm on the company performance of another. I use awards of well-known magazines as proxies for such a shift. Based on regressions with proxies for company performance as dependent variables, I show that a shift in CEO status of an industrially close firm influences company performance negatively. I show this phenomenon to be a result of several effects. The CEO of the firm lowers R&D Expenses in order to pursue projects not aimed at increasing profits. Another unidentified effect causes SIC2- and SIC3 close awards to influence company performance negatively. The dimension of the influence depends strongly on the definition of industrial closeness. SIC3 close awards have a stronger influence than SIC2 close awards. The same regressions find no evidence that geographically close shifts in CEO status influence company performance at all.

Download or read book Managing Risk and Uncertainty written by Richard Friberg and published by MIT Press. This book was released on 2015-11-27 with total page 395 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive framework for assessing strategies for managing risk and uncertainty, integrating theory and practice and synthesizing insights from many fields. This book offers a framework for making decisions under risk and uncertainty. Synthesizing research from economics, finance, decision theory, management, and other fields, the book provides a set of tools and a way of thinking that determines the relative merits of different strategies. It takes as its premise that we make better decisions if we use the whole toolkit of economics and related fields to inform our decision making. The text explores the distinction between risk and uncertainty and covers standard models of decision making under risk as well as more recent work on decision making under uncertainty, with a particular focus on strategic interaction. It also examines the implications of incomplete markets for managing under uncertainty. It presents four core strategies: a benchmark strategy (proceeding as if risk and uncertainty were low), a financial hedging strategy (valuable if there is much risk), an operational hedging strategy (valuable for conditions of much uncertainty), and a flexible strategy (valuable if there is much risk and/or uncertainty). The book then examines various aspects of these strategies in greater depth, building on empirical work in several different fields. Topics include price-setting, real options and Monte Carlo techniques, organizational structure, and behavioral biases. Many chapters include exercises and appendixes with additional material. The book can be used in graduate or advanced undergraduate courses in risk management, as a guide for researchers, or as a reference for management practitioners.

Download or read book Handbook of Leadership Theory and Practice written by Nitin Nohria and published by Harvard Business Press. This book was released on 2010-01-26 with total page 838 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scores of books and articles have been written in the popular press and mainstream marketplace about leadership: who leaders are, what they do, and why they matter. Yet in academia, there is a dearth of rigorous research, journal articles, or doctoral programs focused on leadership as a discipline. Why do top business schools espouse mission statements that promise to "educate the leaders of the future"- yet fail to give leadership its intellectual due? The Handbook of Leadership Theory and Practice seeks to bridge this disconnect. Based on the Harvard Business School Centennial Colloquium "Leadership: Advancing an Intellectual Discipline" and edited by HBS professors Nitin Nohria and Rakesh Khurana, this volume brings together the most important scholars from fields as diverse as psychology, sociology, economics, and history to take stock of what we know about leadership and to set an agenda for future research. More than a means of getting ahead and gaining power, leadership must be understood as a serious professional and personal responsibility. Featuring the thinking of today's most renowned scholars, the Handbook of Leadership Theory and Practice will be a catalyst for elevating leadership to a higher intellectual plane - and help shape the research agenda for the next generation of leadership scholars.

Download or read book What CEOs Expect from Corporate Training written by William J. Rothwell and published by AMACOM Div American Mgmt Assn. This book was released on 2003 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation No individual holds a larger or more direct stake in company outcomes than the CEO. Based on extensive interviews with CEOs and other key stakeholders in a myriad of companies, this book reflects executive perception of training and development and their critical importance in the pursuit of corporate objectives.

Download or read book Strategic Leadership written by Sydney Finkelstein and published by Strategic Management. This book was released on 2009 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book integrates and assesses the vast and rapidly growing literature on strategic leadership, which is the study of top executives and their effects on organizations. The basic premise is that in order to understand why organizations do the things they do, or perform the way they do, we need to deeply comprehend the people at the top-- their experiences, abilities, values, social connections, aspirations, and other human features. The actions--or inactions--of a relatively small number of key people at the apex of an organization can dramatically affect organizational outcomes. The scope of strategic leadership includes individual executives, especially chief executive officers (CEOs), groups of executives (top management teams, or TMTs); and governing bodies (particularly boards of directors). Accordingly, the book addresses an array of topics regarding CEOs (e.g., values, personality, motives, demography, succession, and compensation); TMTs (including composition, processes, and dynamics); and boards of directors (why boards look and behave the way they do, and the consequences of board profiles and behaviors). Strategic Leadership synthesizes what is known about strategic leadership and indicates new research directions. The book is meant primarily for scholars who strive to assess and understand the phenomena of strategic leadership. It offers a considerable foundation on which professionals involved in executive search, compensation, appraisal and staffing, as well as board members who evaluate executive performance and potential, might build their tools and perspectives.

Download or read book Current Topics in Management written by M. Rahim and published by Transaction Publishers. This book was released on with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This annual series presents basic research on the theory and practice of management and administration. Volume 10 includes both invited contributions and revised versions of papers presented at the 2004 International Conference on Advances in Management, held at Orlando, Florida. This volume exemplifies ICAM's comparative orientation, in its broad scope of management perspectives, in the diverse locations of its research as well as its application, and in its comparisons of findings, methodologies, and operational definitions. The chapters in Part 1, "Knowledge Management, Learning, and Effectiveness," discuss the Effective Knowledge Organization; new frontiers to actionable knowledge; and reframing and engaging with organizational learning constraints. In Part 2, "Organization Change, Innovation, and Learning," chapters examine the new sciences and Organization Studies, and Exploratory Research on the Effect of Autonomous Learners to Team Learning within Healthcare Systems. In Part 3, "Performance, Social Capital, and Ethics," chapters elaborate on corporate performance cycles; the Marginal Temp Syndrome; the liabilities of social capital with respect to career development, third-party relationships, creativity generation, change, organizational and societal fragmentation, and collective wrongdoings; and ethics and the 2003 Mutual Fund Scandal. In Part 4, "International and Cross-cultural Management," chapters discuss selecting employees for global assignments; rethinking citizenship in public administration, and styles of handling interdepartmental conflict and effectiveness. This volume will be of particular interest to corporate libraries, doctoral students in management and administration, economists, and labor studies specialists. M. Afzalur RahimInternational Journal of Organizational Analysis and International Journal of Conflict Management, author of twenty books and numerous journal articles, and is professor of management at Western Kentucky University. Robert T. Golembiewski is distinguished research professor, emeritus at the University of Georgia, and has authored or edited over seventy-five books and numerous articles in scholarly journals.

Download or read book Return on Character written by Fred Kiel and published by Harvard Business Review Press. This book was released on 2015-03-17 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does the character of our leaders matter? You may think this question was answered long ago. Countless business authors and analysts have assured us that great leadership demands great character. Time and again, we’ve seen that truth play out, as once-thriving organizations falter and fail under the guidance of leaders behaving badly. Why, then, do so many executives remain skeptical about the true value of leadership character? A winning strategy and a sound business model are what really matter, they argue; character is just the icing on the cake. What’s been missing from this debate is hard evidence: data that shows not only that leadership character matters for organizational success, but how it matters; and concrete evidence that it leads to better business results. Now, in this groundbreaking book, respected leadership researcher, adviser, and author Fred Kiel offers that evidence—solid data that demonstrates the connection between character, leadership excellence, and organizational results. After seven years of rigorous research based on a landmark study of more than 100 CEOs and over 8,000 of their employees’ observations, Kiel’s findings show that leaders of strong character achieved up to five times the ROA for their organizations as did leaders of weak character. Return on Character goes on to reveal: • How leadership character is formed, how it creates value, and how that value spreads throughout the organization • How low-character leaders undermine the success of even the best business plans • How leaders at any level can develop the habits of strong character and “unlearn” the habits of poor character The book also provides a character-building methodology—step-by-step advice and techniques for assessing your own character habits and improving your performance and that of your organization. Return on Character provides the blueprint for building your own leadership character and creating a character-driven organization that achieves superior business results.

Download or read book Differences Between General And Excellent CEO Management Abilities written by Johnny Ch Lok and published by . This book was released on 2020-05-08 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the personal characteristics differences between general CEO and excellent CEO ? General CEO Skills & CompetenciesI believe that it has differences between general CEO and excellent CEO's personal characteristic. To be successful in this role, general CEOs generally need the following skills and qualities: ⦁ Interpersonal skills: CEOs need to form good relationships with other leaders in the company and get significant input from the organization so that there is little pushback regarding strategic decisions and direction.⦁ Analytical skills: CEOs must participate in evaluating the success of the organization in reaching its goals. They must make sure that each strategic goal is measurable.⦁ Leadership skills: CEOs must demonstrate the leadership necessary to make the organization's mission a success. This includes providing vision direction, attracting followers, and all other aspects of successful leadership.⦁ Management skills: The CEO is responsible for creating a culture of learning to help enhance and grow the skills and abilities of employees. When significant players continue to learn and grow the organization truly succeeds.Qualities and Traits of a Chief Executive Officer One excellent CEO 's personal qualities and traits may include as below several personal characteristics aspects: On Courage, Passion & Intensity hand, an excellent CEO is drawn to change and effective action more easily. Resilience & Drive: Leaders know that taking risks and making large-scale changes can lead his/her organization to achieve aim more easily. High Emotional Intelligence: CEOs of successful corporations know a key part to the organization's any department teams. Moreover, an excellent CEO is drawn to change and effective action like a moth to a flame. Best-in-class leaders are always looking towards the future, setting ambitious goals and often rely on their intuition. CEOs take initiative, are quicker to capitalize on opportunities and are more likely to take high level risks than their other executive counterparts. Their intensity and passion for growth and development makes them charismatic and persuasive people. Willingness to take calculated risks. Great, and sometimes unforeseen opportunities often come from taking risks. Taking calculated risks shows confidence and helps you grow as a business leader. Often times, risky decisions may take you on a new, important path. Success won't be handed to you on a silver platter. Embracing risk also helps you overcome the fear of failing. While it may seem like an obvious fact, the market changes with the times. It's important to think outside the box because sometimes there are better ways to achieve business goals. Sometimes, the same tried and true methods don't always work. When a CEO thinks outside the box, it makes them and their company stand out to customers and prospects.On resilience & Drive hand, leaders know that taking risks and making large-scale changes can lead to exponential growth or can fail dramatically. A key difference between good CEOs and great CEOs is the ability to bounce back and push forward. A great CEO is open to learning from their mistakes and will work to turn unanticipated situations into positive results. It's important for a CEO to be confident, but not arrogant about their skills and what they offer their employees. They should remain aware of and confront challenges while still striving to reach audacious goals. A CEO must be understanding of matters in and out of the workplace. Employees are people with lives outside of work, and if there's an emergency, a CEO should be understanding and let the employee handle it. The risk of making mistakes is far greater if an employee is working and focused on other things.

Download or read book The Handbook of Research on Top Management Teams written by Mason Andrew Carpenter and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook presents original research and theory on executives, top management teams, and boards of directors and illustrates the vital importance of this field of study. Top management teams are responsible for the strategic choices and major decisions in organizations. These organizations are a reflection of the members that make up their strategic management. The roles top management play and the impact they have are clearly visible in firms around the world, both large and small. The international group of authors that comprise this volume address questions central to the field of strategy and strategic leadership. They review the determinants of top management team composition, their social networks, and executive dismissal; the psychological and personality profiles of top executives; the methodologies relevant to the study of top teams; and the roles of top executives in cross business unit collaboration, competitive behavior, and strategic entrepreneurship. Each chapter presents path-breaking research and provides a roadmap for new research avenues and agendas. Professors, students and researchers in the area of strategy, management and strategic leadership will find this book an invaluable resource.

Download or read book Learning about CEO Ability and Stock Return Volatility written by Yihui Pan and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: When there is uncertainty about a CEO's quality, news about the firm causes rational investors to update their expectation of the firm's profitability for two reasons: Updates occur because of the direct effect of the news, and also because the news can cause an updated assessment of the CEO's quality, affecting expectations of his ability to generate future cash flows. As a CEO's quality becomes known more precisely over time, the latter effect becomes smaller, lowering the stock price reaction to news, and hence lowering the stock return volatility. Thus, in addition to uncertainty about fundamentals, uncertainty about CEO quality is also a source of stock return volatility, which decreases over a CEO's tenure as the market learns the CEO's quality more accurately. We formally model this idea, and evaluate its implications using a large sample of CEO turnovers in U.S. public firms. Our estimates indicate that there is statistically significant and economically important market learning about CEO ability, even for CEOs whose appointments appear to be unrelated to their predecessors' performance. Also consistent with the learning model is the fact that the learning curve appears to be convex in time, and learning is faster when there is higher ex ante uncertainty about the CEO's ability and more transparency about the firm's prospects. Overall, uncertainty about management quality appears to be an important source of stock return volatility.

Download or read book Standing on the Shoulders of Giants written by Brian Boyd and published by Emerald Group Publishing. This book was released on 2019-04-10 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 11th edition of Research Methodology in Strategy and Management focuses on understanding cutting edge methodological approaches to the study of organizations, managers, and strategy. To this end, the chapters are intended to give readers a sense of new approaches as well as retrospective accounts by Kathy Eisenhardt and Denny Gioia.

Download or read book Recent Developments in Data Science and Business Analytics written by Madjid Tavana and published by Springer. This book was released on 2018-03-27 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume is brought out from the contributions of the research papers presented in the International Conference on Data Science and Business Analytics (ICDSBA- 2017), which was held during September 23-25 2017 in ChangSha, China. As we all know, the field of data science and business analytics is emerging at the intersection of the fields of mathematics, statistics, operations research, information systems, computer science and engineering. Data science and business analytics is an interdisciplinary field about processes and systems to extract knowledge or insights from data. Data science and business analytics employ techniques and theories drawn from many fields including signal processing, probability models, machine learning, statistical learning, data mining, database, data engineering, pattern recognition, visualization, descriptive analytics, predictive analytics, prescriptive analytics, uncertainty modeling, big data, data warehousing, data compression, computer programming, business intelligence, computational intelligence, and high performance computing among others. The volume contains 55 contributions from diverse areas of Data Science and Business Analytics, which has been categorized into five sections, namely: i) Marketing and Supply Chain Analytics; ii) Logistics and Operations Analytics; iii) Financial Analytics. iv) Predictive Modeling and Data Analytics; v) Communications and Information Systems Analytics. The readers shall not only receive the theoretical knowledge about this upcoming area but also cutting edge applications of this domains.