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The leaders of business are a continued focus of interest in management research and in the broader society. Their attributes speak to social mobility, inequality, and who holds positions of power and influence in society. This article examines the attributes of the ten highest-ranked executives of the largest corporate enterprises in the United States—the Fortune 100—and compares how they have changed over the past 40 years, a period when many assumptions about businesses and the people who run them have changed. While there has been significant change in some areas, such as the increase in the proportion of women and foreign-born executives and the rise in outside hiring, there is no evidence of an increase in younger leaders who advance faster than their predecessors and spend an ever-shorter time with their employer. In fact, top executives now are as old as their peers were in the 1950s, and their tenure with their employer is rising. [ABSTRACT FROM AUTHOR]

Purpose: This paper elucidates the role of anger in error management (EM) and organizational learning behaviors. The study explores how anger can catalyze learning, emphasizing its strategic implications. Design/methodology/approach: A double-layered moderated-mediated model was developed and tested using data from 744 Chinese CEOs. The psychometric properties of the survey instrument were rigorously examined through structural equation modeling, and hypotheses were tested using Hayes's PROCESS macros. Findings: The findings reveal that anger is a precursor for recognizing the value of significant errors, leading to a positive association with learning behavior among top management team members. Additionally, the study uncovers a triple interaction effect of anger, EM culture and supply chain disruptions on the value of learning from errors. Extensive experience and positive grieving strengthen the relationship between recognizing value from errors and learning behavior. Originality/value: This study uniquely integrates affect-cognitive theory and organizational learning theory, examining anger in EM and learning. The authors provide empirical evidence that anger can drive error value recognition and learning. The authors incorporate a more fine-grained approach to leadership when including executive anger as a trigger to learning behavior. Factors like experience and positive grieving are explored, deepening the understanding of emotions in learning. The authors consider both negative and positive emotions to contribute to the complexity of organizational learning. [ABSTRACT FROM AUTHOR]

The Total Carbon Column Observing Network (TCCON) and the Infrared Working Group of the Network for the Detection of Atmospheric Composition Change (NDACC-IRWG) are two ground-based networks that provide the retrieved concentrations of up to 30 atmospheric trace gases, using solar absorption spectrometry. Both networks provide reference measurements for the validation of satellites and models. TCCON concentrates on long-lived greenhouse gases (GHGs) for carbon cycle studies and validation. The number of sites is limited, and the geographical coverage is uneven, covering mainly Europe and the USA. A better distribution of stations is desired to improve the representativeness of the data for various atmospheric conditions and surface conditions and to cover a large latitudinal distribution. The two successive Fiducial Reference Measurements for Greenhouse Gases European Space Agency projects (FRM4GHG and FRM4GHG2) aim at the assessment of several low-cost portable instruments for precise measurements of GHGs to complement the existing ground-based sites. Several types of low spectral resolution Fourier transform infrared (FTIR) spectrometers manufactured by Bruker, namely an EM27/SUN, a Vertex70, a fiber-coupled IRCube, and a Laser Heterodyne spectro-Radiometer (LHR) developed by UK Rutherford Appleton Laboratory are the participating instruments to achieve the Fiducial Reference Measurements (FRMs) status. Intensive side-by-side measurements were performed using all four instruments next to the Bruker IFS 125HR high spectral resolution FTIR, performing measurements in the NIR (TCCON configuration) and MIR (NDACC configuration) spectral range. The remote sensing measurements were complemented by AirCore launches, which provided in situ vertical profiles of target gases traceable to the World Meteorological Organization (WMO) reference scale. The results of the intercomparisons are shown and discussed. Except for the EM27/SUN, all other instruments, including the reference TCCON spectrometer, needed modifications during the campaign period. The EM27/SUN and the Vertex70 provided stable and precise measurements of the target gases during the campaign with quantified small biases. As part of the FRM4GHG project, one EM27/SUN is now used as a travel standard for the verification of column-integrated GHG measurements. The extension of the Vertex70 to the MIR provides the opportunity to retrieve additional concentrations of N2O, CH4, HCHO, and OCS. These MIR data products are comparable to the retrieval results from the high-resolution IFS 125HR spectrometer as operated by the NDACC. Our studies show the potential for such types of spectrometers to be used as a travel standard for the MIR species. An enclosure system with a compact solar tracker and meteorological station has been developed to house the low spectral resolution portable FTIR systems for performing solar absorption measurements. This helps the spectrometers to be mobile and enables autonomous operation, which will help to complement the TCCON and NDACC networks by extending the observational capabilities at new sites for the observation of GHGs and additional air quality gases. The development of the retrieval software allows comparable processing of the Vertex70 type of spectra as the EM27/SUN ones, therefore bringing them under the umbrella of the COllaborative Carbon Column Observing Network (COCCON). A self-assessment following the CEOS-FRM Maturity Matrix shows that the COCCON is able to provide GHG data products of FRM quality and can be used for either short-term campaigns or long-term measurements to complement the high-resolution FTIR networks. [ABSTRACT FROM AUTHOR]

We investigate how the cultural heritage of bank CEOs shapes the relationship between public corruption and the cost of syndicated loans in the US market. We show that banks led by CEOs that trace their origin in high uncertainty avoidance societies penalize less sharply in loan pricing the presence of high local public corruption in the state of the borrowing firms. We find some similar evidence for banks led by CEOs that trace their origin to more individualistic societies. These findings are consistent with the view that certain cultural traits prompt tolerance for the risks of corruption and show that the pricing of institutional quality in corporate loans is conditional on banks led by CEOs with such traits. [ABSTRACT FROM AUTHOR]

Purpose: The current study qualitatively examined the challenges and lessons learned from Chief Executive Officers (CEOs) during the COVID-19 pandemic. The current study draws upon previous crisis leadership research to understand and classify the most important lessons learned from CEOs. Design/methodology/approach: A total of 30 in-depth, structured CEO interviews were conducted with large, multi-divisional organizations across market sectors that included healthcare, automotive, steel, agriculture, logistics, distribution, banking, financial services, light manufacturing and industrial services during the COVID-19 pandemic. Three separate judges performed a content analysis, and three main themes (eleven overall lessons) emerged related to high-level leadership lessons learned through the pandemic. Findings: The leadership lessons that emerged overwhelmingly focused on the importance of emphasizing leadership fundamentals during crisis. CEO's shared the importance of getting "back to basics" during the pandemic. The current study presents these leadership lessons, along with insights for leadership practices and development, as well as future research. Additionally, questions for reflection are posed to stimulate current and future leaders' growth and development. Originality/value: The COVID-19 pandemic has impacted leadership and organizations in an unprecedented manner. Previous research has outlined the leadership traits and behaviors needed to successfully lead through organizational crises. However, little research has examined CEO level lessons learned, focusing on learning from such crises. [ABSTRACT FROM AUTHOR]

A large body of literature has focused on strategic leaders' (i.e., CEOs', TMT members', and board directors') influence on corporate social responsibility (CSR). However, inconsistent findings have been reported, impeding the theoretical and practical implications of this line of inquiry. Drawing from the strategic leadership literature and the corporate governance literature, we conducted a meta-analysis based on 318 samples to consolidate disparate findings on the relationships between frequently measured executive and board attributes and CSR. We also examined country managerial discretion and investor protection strength as potential boundary conditions of these relationships. With some exceptions, our meta-analytic results show that these executive and board attributes explained meaningful variance in CSR, and that country managerial discretion and investor protection strength played limited moderating roles. Additional analyses suggest that the board characteristics had a stronger relationship with CSR than the executive characteristics. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to examine the relationships between chief executive officers (CEOs) with military service and firm dividend and cash holding decisions. Design/methodology/approach: The authors use a sample of Standard and Poor's (S&P) 1500 firms in the USA over a sample period from 1999 to 2017 and a panel data approach, as well as instrumental variable (IV)analysis. The models control for firm characteristics as well as industry and year-fixed effects. Findings: The results show CEOs with military service are associated with higher total payout and less cash. Higher dividends appear to drive the total payout result. When cash holdings are split into pure cash and short-term investments, the reduction in cash holdings is driven by a reduction in pure cash. The findings are more pronounced for powerful CEOs and CEOs with low labor mobility. Military CEOs are also associated with less risk, measured by stock return volatility and return on assets (ROA) volatility. Originality/value: Overall, the results are consistent with military CEOs implementing conservative policies that reduce firm risk, curtailing the demand for precautionary cash and reducing the necessity to forego dividend payouts. [ABSTRACT FROM AUTHOR]

Enterprise digital transformation (EDT) is becoming an essential strategy for business growth owing to the rapid iterative invention of digital technologies. Based on imprinting theory, we examined the effects of chief executive officers' (CEOs') digital technology backgrounds (DTBs) on EDT using data on Chinese listed companies from 2010 to 2020. We found that (1) CEOs with digital technology‐related learning or career experience can drive EDT to a higher degree. (2) Research and development (R&D) investment and corporate social responsibility (CSR) are significant variables that influence the digital transformation of CEOs' digital technology. Both partially mediate CEOs' DTBs, driving digital transformation by increasing R&D investment and enhancing CSR. (3) CEOs' DTBs significantly promote digital transformation in state‐owned, high‐tech, and digital economy enterprises. By promoting digital transformation, CEOs' DTBs substantially increased their sustainable development. [ABSTRACT FROM AUTHOR]

This study examines whether and when, in a stigmatized industry, firms' negative publicity can lead to the appointment of their CEOs to the boards of directors of other firms within that sector. Building on research on ingroup identification and on stigma, we propose that within a stigmatized industry, when a firm receives negative publicity, its CEO is more likely to join the board of other firms in the industry, possibly because these other firms interpret the negative publicity as a sign of the social identification of the CEO with the stigmatized industry. We also suggest that this relationship is more likely when the negative publicity reveals information otherwise not available about the CEO. We test our hypotheses using a novel, hand-collected dataset of 408 CEOs in 205 firms in the global arms industry, between 1998 and 2017, and find that within this stigmatized industry, when a firm receives negative publicity, its CEO is more likely to join the board of other firms in the industry, and that lower levels of CEOs' reputational capital and visibility magnify this effect. Our findings advance the conversations in stigma research about upper echelons, highlighting the importance of internal and external actors and of the type of stigma, when investigating the consequences of stigma for upper echelons' careers. [ABSTRACT FROM AUTHOR]

Summary: Neural networks in deep learning are changing the way we interact with the world. This paper focuses on building a logit artificial neural network (ANN) and through it finds out the factors affecting the decision to join corporate social responsibility (CSR) of firms. This study contributes to suggesting new directions for research in the artificial intelligence (AI) era on the relationship between corporate governance and CSR. The dataset of 817 Taiwanese electronic firms is analyzed for the period 2014–2020. The empirical results show that when the power of the board of directors, supervisors, and CEOs are higher, firms do not choose to participate in CSR. The independent board has not yet promoted its corporate oversight of CSR participation. The decision not to participate in CSR of the firms is made when they are more equipped with the background of accounting, finance, and law. Only firms with higher debt, asset value, and profitability are willing to join CSR. These research results suggest some important points for future policy reforms towards sustainability. [ABSTRACT FROM AUTHOR]

Corporate resolution on environmental, social, and governance (ESG) communication informs firms' environmental commitment, a growing determinant of corporate risk profile perceived by the market. This study examines ESG reporting in the presence of board co‐option, a phenomenon that paralyzes the dependency of the board of directors and impairs corporate transparency. Using data from 643 US‐listed firms from 2007 to 2018, we investigate the relationship between board co‐option and ESG disclosure practices and show that firms with a higher proportion of co‐opted directors on board disclose less ESG information, though this relationship diminishes if firms are strong ESG reporters. Further analyses reveal that long‐tenure board chairs, high attendance rates at board and audit committee meetings, and independent chairs of audit committees mitigate this adverse effect. In addition, we document an increasing inverse relationship among firms located in more corrupt and Democratic‐leaning states and operating in heavy‐emitting industries. Our results support the premise that co‐opted directors insulate CEOs from ESG reporting pressure and highlight that corporate governance, environmental performance as well as state institutions play significant moderating roles in this relationship. [ABSTRACT FROM AUTHOR]

The number of women serving on the executive boards of large companies in Germany once again increased in 2023: Around 18 percent (153 of 875) of executive board members at the 200 largest companies were women as of late fall 2023, two percentage points higher than in 2022. Thus, growth has slightly picked up again. In some of the groups of companies analyzed, the figure was even higher. Around 23 percent of executive board members at the DAX 40 companies, for example, are women. The largest banks and insurance companies, which in the past years have lagged considerably behind other private sector companies and companies with government-owned shares, managed to catch up a bit. In many places, this growth is due to the fact that companies have appointed a woman to their executive board for the first time. Beyond that, there is currently not much progress. In addition, the number of women holding the position of CEO has decreased in many groups of companies. More commitment is needed from companies, both internally (e.g., from the supervisory board) and externally (e.g., from investors) to achieve gender parity in senior leadership positions. [ABSTRACT FROM AUTHOR]

Copyright of Deutsches Institut für Wirtschaftsforschung: DIW-Wochenbericht is the property of DIW Berlin and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

We examine the effect of the composition of the board of directors on the firm's chief executive officer (CEO) hiring decision. Using a novel measure of managerial talent, characterized by an individual's ascent in the corporate hierarchy, we show that firms with non-CEO inside directors tend to hire CEOs with greater managerial skills. This effect obtains for both internal and external CEO hires; moreover, the effect is pronounced when inside directors have stronger reputational incentives and limited access to soft information about the candidate. Our findings demonstrate that boards with inside directors more effectively screen for managerial talent, thereby improving the CEO hiring process. [ABSTRACT FROM AUTHOR]

We examine how a CEO's family life affects their corporate decisions. Specifically, we investigate whether a CEO's spouse's professional status affects the CEO's risk‐taking behavior. Using a sample of S&P 500 firms from the 2010 to 2012 period, we find evidence that CEOs with spouses who are professionals, defined as working spouses, spouses holding graduate degrees, or spouses graduated from Ivy League schools, tend to adopt riskier corporate policies. Our evidence suggests that firms led by CEOs with professional spouses exhibit higher accounting return volatility, make more aggressive financial reporting decisions, and invest more in risky assets. We do not find a significant association between professional spouses and firms' market return volatility. Our results are consistent with the indirect channel theory, which suggests that CEOs with professional spouses might be inclined to undertake higher risks, potentially stemming from heightened conflicts between family and work commitments or improved wealth diversification attributed to their spouses' professional standing. [ABSTRACT FROM AUTHOR]

We study whether firms that are led by chief executive officers (CEOs) with law degrees (lawyer CEOs) have different credit ratings and costs of debt from other firms. Our sample consists of Standard & Poor's 1500 firms from 1992 to 2020, 9.2% of which have lawyer CEOs. We find that these firms have better credit ratings, compared to other firms. On average, their cost of debt is 10% lower than that of firms led by CEOs without legal backgrounds. Our results are robust to different specifications, sampling methods, and controls, such as firm and CEO characteristics. We identify two ways that CEO expertise translates into higher credit ratings: lawyer CEOs are associated with a lower future volatility of stock returns and a reduction in information risk. The decreased business risk and better financial reporting are associated with 5% lower auditing fees for firms with lawyer CEOs. [ABSTRACT FROM AUTHOR]

We examine the symbolic management of participative strategic decision-making programs that purportedly use crowdsourcing technology to solicit strategic input below the executive suite, but are often decoupled from actual strategic decision making. Specifically, top management may decide on a strategic option before soliciting input under the program. The first portion of our theoretical framework explains why disclosure of a participative strategic decision making program in communicating with security analysts is associated with more positive analyst appraisals, despite decoupling, and why the benefits of disclosure are amplified to the extent that leaders highlight the use of crowdsourcing technology in the program. The second portion of our framework addresses the antecedents of symbolic adoption. We suggest that firms are more likely to adopt and decouple a program when the CEO has a personal friendship tie to the CEO of another firm that has adopted and decoupled, especially following relatively negative analyst appraisals. Analysis of a unique dataset that includes longitudinal survey data from executives supported our predictions. [ABSTRACT FROM AUTHOR]

In recent years, the concept of a Fiducial Reference Measurement (FRM) has been developed to highlight the need for precise and well-characterised measurements tailored explicitly to the post-launch calibration and validation (Cal/Val) of Earth observation satellite missions. The confidence that stems from robust, unambiguous uncertainty assessment of space observations is fundamental to assessing the changes in the Earth system and climate model prediction and delivering the essential evidence-based input for policy makers and society striving to mitigate and adapt to climate change. The underlying concept of an FRM has long been a core element of a Cal/Val program, providing a 'trustable' reference against which performance can be anchored or assessed. The 'FRM' label was created to embody into such a reference a set of key criteria. These criteria included the establishment of documented evidence of uncertainty with respect to a community-agreed reference (ideally SI-traceable) and specific tailoring to the needs of a satellite mission. It therefore facilitates comparison and interoperability between products and missions in a cost-efficient manner. Committee on Earth Observation Satellites (CEOS) Working Group Cal/Val (WGCV) is now putting in place a framework to assess the maturity and compliance of a 'Cal/Val reference measurement' in terms of a set of community-agreed criteria which define it to be of CEOS-FRM quality. The assessment process is based on a maturity matrix that provides a visual assessment of the state of any FRM against each of a set of given criteria, making visible where it is mature and where evolution and effort are still needed. This paper provides the overarching definition of what constitutes an FRM and introduces the new CEOS-FRM assessment framework. [ABSTRACT FROM AUTHOR]

Following management theory on organizational legitimacy, we predict that managers mimic the accounting of industry-leading companies to gain legitimacy. Such demand for legitimacy is expected to be greater for new managers because stakeholders are more uncertain about the managers' ability. Using a sample of CEO turnovers, we find that a firm increases financial statement comparability with industry leaders after the new CEO assumes office. This relation is stronger when (1) new managers lack executive experience at larger firms, are younger, or belong to an underrepresented group (i.e., are female or nonwhite); (2) networks that facilitate imitation are more intense, such as when firms and peers are located in the same metropolitan statistical area (MSA) and when they share auditors or blockholders; and (3) firms' operating environments are more volatile. These findings support the idea that CEOs' demand for legitimacy leads to more comparable accounting. Data Availability: Data are available from the public sources cited in the text. [ABSTRACT FROM AUTHOR]

Conventional wisdom holds that CEOs should avoid wading into society's debates. Yet, CEOs are increasingly ignoring this dictum and taking public stances on socially contentious issues. We address this relatively unexplored but important phenomenon by developing a theory of CEO sociopolitical activism. Our stakeholder alignment model posits that CEO activism stems foremost from a CEO's personal values but is facilitated (or suppressed) by the CEO's expectation of support from stakeholders, particularly employees and customers. We also highlight the importance of CEO power, celebrity, and narcissism in influencing whether, and how vividly, the CEO's values manifest in activism. Then, following an episode of CEO activism, stakeholders psychologically respond to the leader's action. Those who were ex ante predisposed toward the CEO's public stance will feel pride in their affiliation with the company, and will consequently experience heightened identification with the firm and with the CEO's stance. Stakeholders who were ex ante averse to the CEO's stance will experience diminished identification with the firm, and their oppositional stance will be further cemented. Finally, we juxtapose CEO activism with other society-oriented firm practices (e.g., corporate social responsibility and corporate lobbying) and develop propositions about their independent and joint effects on stakeholder identification. [ABSTRACT FROM AUTHOR]

Purpose: The career is a space where family and work lives amalgamate. The role of work for the individual, and the meaning of work within the culture, will determine the relevance of family. This study investigates CEOs' perception about conjugal family influence on career decisions, and it examines family factors. Design/methodology/approach: Through a qualitative study, 22 Latin American CEOs who work for multinational firms were interviewed in a semi-structured way. Findings: Not all career decisions were influenced by conjugal family. CEOs varied in the extent to which they considered their families when reflecting on their career decisions. Expatriation, joining or quitting an organization and change of area of work were found as those decisions perceived to be influenced by conjugal family. Family support, family structure and family demands and responsibilities were identified as the family factors involved. In spite of the role salience, family factors influenced some of CEOs' career decisions, in part, due to the cultural characteristics of the Latin American environment. The instrumental support of the extended family, as part of collectivist societies, was also evidenced. Practical implications: A better understanding of the family influenced decisions and family factors involved may enhance individual career decision-making as well as organizational career management processes and public initiatives. Originality/value: This study contributes to family and career literature, being the first one to explore the conjugal family influence upon CEOs' career decisions. [ABSTRACT FROM AUTHOR]

We find that cultural proximity between auditors and CFOs is associated with audit quality. We use recent mandated PCAOB disclosures of engagement audit partners to construct cultural proximity between engagement audit partners and client executives. Building on an extensive literature on homophily in social connections, we hypothesize that when an engagement audit partner is culturally close to client executives, the accounting negotiation is more efficient, resulting in higher audit quality. Consistent with this prediction, we find that audited earnings are of higher quality when the engagement audit partner is culturally close to the CFO. We, however, do not find similar evidence when the engagement audit partner is culturally close to the CEO. Our findings are consistent across several alternative measures of audit quality and cultural proximity. These findings suggest that interpersonal factors from the auditor–client relationship are important for audit outcomes. Our study supports the PCAOB's position that mandatory disclosures of engagement audit partner identity are helpful in understanding audit quality. [ABSTRACT FROM AUTHOR]

We examine whether CEOs with foreign experience influence firms' export performance. Using a combined dataset based on Chinese‐listed firms from 2008 to 2021, we determine that hiring CEOs with foreign experience significantly enhances firms' export performance. In addition, we document that the positive relationship between CEOs' foreign experience and firms' export performance is more pronounced when CEOs have long‐term foreign work experience. The impact of foreign experience on firms' export performance varies with CEOs' gender. Furthermore, the advantage of appointing CEOs with foreign experience is only significant when firms have long‐time lifespan or receive intensive foreign direct investment. The results are robust to the endogenous CEO selection using instrument variable method, propensity score matching method, and the fixed‐effects model. Accordingly, our findings offer policy implications by suggesting that hiring a CEO with foreign experience is an efficient way to improve firms' export performance. [ABSTRACT FROM AUTHOR]

Absolute calibration of Earth observation sensors is key to ensuring long term stability and interoperability, essential for long term global climate records and forecasts. The Moon provides a photometrically stable calibration source, within the range of the Earth radiometric levels and is free from atmospheric interference. However, to use this ideal calibration source one must model the variation of its disk integrated irradiance resulting from changes in Sun-Earth-Moon geometries. LIME, the Lunar Irradiance Model of the European Space Agency, is a new lunar irradiance model developed from ground-based observations acquired using a lunar photometer operating from the Izaña Atmospheric Observatory and Teide Peak, located in Tenerife, Spain. Nightly top-of-atmosphere irradiance is determined using the Langley plot method and each observation is traceable to the international system of units (SI), through the photometer calibration performed at the National Physical Laboratory. Approximately 590 lunar observations acquired between March 2018 and December 2022 currently contribute to the model parameter derivation, which builds on the widely-used ROLO (Robotic Lunar Observatory) model analytical formulation. This paper presents the strategy used to derive LIME model parameters: the characterisation of the lunar photometer, the derivation of nightly top of atmosphere lunar irradiance and a description of the model parameter derivation, along with the associated metrologically-rigorous uncertainty. The model output has been compared to PROBA-V, Pleiades, Sentinel 3B as well as to the VITO implementation of the ROLO model. Initial results indicate that LIME predicts 3% - 5% higher disk integrated lunar irradiance than the ROLO model for the visible and near-infrared channels. The model output has an expanded (k = 2) radiometric uncertainty of ~2% at the lunar photometer wavelengths, and it is expected that planned observations until at least 2024 further constrain the model parameters in subsequent updates. [ABSTRACT FROM AUTHOR]

Humility, defined as a multidimensional construct comprising an accurate assessment of one's characteristics, an ability to acknowledge limitations and strengths, and a low self-focus, is a complex trait to potentially counterbalance detrimental effects of "negative" personal traits (e.g., narcissism), thereby making it relevant to researchers and practitioners in Management and Psychology. Whereas the study of the humility construct has become ubiquitous in Social Psychology, to our best knowledge, a review of the effects of humility in the contexts of company leaders (i.e., Chief Executive Officers) is lacking. Our systematic review suggests that CEO humility, directly and indirectly, affects a variety of individual, team, and organizational level constructs. Implications for research and practice are discussed, providing a future agenda for the construct to reach its full potential despite its relative novelty. [ABSTRACT FROM AUTHOR]

Copyright of GV-executivo is the property of Fundacao Getulio Vargas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article presents an analysis of risk perception among chain newspaper CEOs in Scandinavia. Based on in-depth, semi-structured interviews, the analysis finds that risk is perceived in relation to public trust, corporate expansion and contentious government regulation. We discuss these themes in relation to their uncertainty, and the potential gains and losses that accompany them. The aim of the study is to sharpen the distinction between risks, uncertainties and threats as they are mobilized in research on the news industries, contributing to the research on strategic media management at the firm level. The contribution of the study is furthermore to demonstrate how CEOs' risk perception can be seen as boundary work performed at the corporate level. [ABSTRACT FROM AUTHOR]

Research Summary: Hambrick and Quigley's (2014) "CEO in context" (CiC) technique leads to a much larger CEO effect than traditional ANOVA or multilevel modeling. We replicate H&Q's study, apply their CiC technique to a much more comprehensive U.S. sample, and assess the sensitivity of the model findings to variations in method and data. We generally confirm H&Q's finding of a high CEO effect, but find a smaller industry effect and a larger firm effect in our much larger sample. Applying the CiC technique with adjusted R2s has only a moderate impact on year, industry, and firm effects, but markedly reduces the CEO effect. We also document that CiC model findings are sensitive to sample characteristics, namely firm size and CEO tenure. Managerial Summary: Hambrick and Quigley (2014) introduced a new method to analyze the influence of CEOs on firm performance. The study's empirical analysis focused on large U.S. firms. We replicate the original study and extend it to a much larger, comprehensive sample of U.S. firms that is composed of 33,996 firm‐year observations, compared to 4,866 firm‐years in the original study. Controlling for the number of variables used in the estimations, the model attributes about a third of the total variance of firm performance (ROA) to the CEO. Further analyses show that the model findings differ for firms of different size and CEO tenure; the larger the firms and the longer the CEO tenures, the smaller tends to be the percentage of variance explained by the CEO. [ABSTRACT FROM AUTHOR]

We examine the contractual implications of a lender's trust for corporate loans. We measure how trusting a lender is using the average trust attitude in the chief executive officer's ancestral country of origin. We find that banks with trusting CEOs charge lower interest rates in U.S. syndicated loans. This effect is identified within existing lender–borrower relationships and similar types of loans. Further analyses indicate that trust reduces the cost of credit by boosting the perceived credibility of borrower information and by mitigating contracting problems. We corroborate our findings by conducting a survey of loan officers with experience in loan syndication. This paper was accepted by Gustavo Manso, finance. Supplemental Material: The internet appendix and data are available at https://doi.org/10.1287/mnsc.2022.4371. [ABSTRACT FROM AUTHOR]

Many companies in Germany must provide information beyond financial figures in their annual reports. For some years now, legislators have increasingly required information on non-financial aspects, such as the shares of women in leadership positions. Using a quantitative text analysis of annual reports, this second report in the 2023 DIW Berlin Women Executives Barometer shows that the major publicly listed corporations in Germany implement the reporting requirements very differently. Reporting about women and leadership positions increased overall between 2009 and 2020 in line with the requirements. However, there were clear differences in the companies' focus: There is an equality-oriented group of companies that reports extensively about concrete measures to increase the share of women in leadership positions. This group has significantly more women on their supervisory boards than the other group, compliance-oriented companies, which seem to be mainly concerned with fulfilling the legal requirements. Companies' reporting on women and leadership positions is thus an indicator and useful signal to outside stakeholders of how serious companies are about gender equality. [ABSTRACT FROM AUTHOR]

The upward trend in women's representation on executive and supervisory boards of major companies in Germany continued in 2022, although the overall momentum has slowed yet again. Growth on executive boards in particular has slowed, as the most recent DIW Berlin Women Executives Barometer shows: Following a significant increase at the 200 largest companies from 2020 to 2021, there was only a one-percentage-point increase to just under 16 percent in the share of women on executive boards in 2022. The greatest increases were in the DAX-40 companies, where there was a share of women on executive boards of over 20 percent for the first time, and companies with government-owned shares, where the share reached 30 percent for the first time. A similar development can be seen in supervisory boards, albeit on a higher level. This development suggests that the companies subject to the inclusion requirement for executive boards, which has been in effect since 2021, implemented it quickly, but have since slowed their efforts. With the Equal Participation of Men and Women in Leadership Positions Act and its successor, policymakers have recently significantly improved the conditions for more women in top bodies. Now companies must do the work, as gender parity remains a distant prospect in many places. Most importantly, companies should make efforts to create an inclusive work culture. [ABSTRACT FROM AUTHOR]

Copyright of Deutsches Institut für Wirtschaftsforschung: DIW-Wochenbericht is the property of DIW Berlin and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Deutsches Institut für Wirtschaftsforschung: DIW-Wochenbericht is the property of DIW Berlin and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In this paper, we examine white male managers’ intrapsychic and behavioral responses to the appointment of a female or a racial minority CEO at their firm. Drawing from intergroup relations literatures, we theorize how and why the appointment of a minority-status CEO is likely to impact the amount of help that white male top managers provide to their fellow executives. We first explain how white male managers’ negatively biased perceptions of racial minority and female CEOs lead them to experience a diminished sense of organizational identification following the appointment of a minority-status CEO. We then examine how this diminished sense of organizational identification is likely to reduce white male managers’ general propensities to provide help to other executives at the firm. We finally consider how reduced identification might have especially strong negative implications for the amount of help that white male managers provide to colleagues who are racial minorities or women. Our results consistently support our theoretical expectations that, following the appointment of a female or racial minority CEO, white male top managers tend to experience a diminished sense of organizational identification, and, in turn, provide less help to colleagues, with this reduction particularly pronounced for help provided to minority-status colleagues. [ABSTRACT FROM AUTHOR]

This commentary outlines the views of a current head teacher after receiving increased marketing and persuasive letters from multi-academy trust (MAT) chief executive officers (CEOs) in an attempt to expand their MATs. Following the Department for Education's academisation programme, which aims to convert all schools in England to MATs by 2030, this reflection highlights the implications of the programme and reflects, from an insider's perspective, on the author's concerns about this approach for the communities, which will lose local leaders with autonomy and see them replaced with CEOs who have multiple interests, other than those of the local schools. [ABSTRACT FROM AUTHOR]

Purpose: Within intellectual disability care organizations (IDCOs), it is vital that professionals share and apply knowledge to improve the quality of care for their service users. Given that chief executive officers (CEOs) play a pivotal role in enabling these processes, this paper aims to investigate both the underlying motives and strategies behind CEOs' organizational knowledge leadership and their contribution to improving these knowledge processes. Design/methodology/approach: In this exploratory qualitative study, 11 CEOs from IDCOs in the Netherlands who are actively involved in knowledge management within their organizations were interviewed. An inductive thematic analysis was conducted. Findings: CEOs' motives for stimulating knowledge processes among professionals in IDCOs arise from the internal (e.g. the CEOs themselves) and external (e.g. policy) contexts. This study also identified four strategies adopted by CEOs to stimulate sharing and application of knowledge: providing organizational conditions for effective knowledge processes; focused attention on talent development; acknowledgment and deployment of knowledge holders; and knowledge-driven participation in collaborative partnerships. These strategies are used in combination and have been shown to reinforce one another. Practical implications: An overview of strategies for stimulating knowledge processes is now available. Originality/value: The results display the leadership of CEOs in knowledge strategies. Insights into their perceptions and values are provided while elaborating on their motives to take this role. [ABSTRACT FROM AUTHOR]

In this paper, we examine the origins and evolution of and main influences on research on within- and between-firm relationships among directors and executives. We conduct a review of the literature supplemented with bibliometric analyses that allow us to examine the complex citation network of publications spanning several decades and multiple disciplines (i.e., management, sociology, economics, accounting, and finance). First, we use main path analysis to uncover the primary paths of knowledge codification and diffusion of the literature on relationships among directors and executives. Next, we conduct bibliographic coupling analysis to map out current themes and developments in the field. In so doing, we provide an integrative framework for research on social processes and relationships of the corporate elite and discuss changes in the field's emphasis on various issues, identifying key theoretical and empirical advances, and offer directions for future research. Scholars and practitioners have raised concerns about problems underlying the presence and use of intra- and inter-firm relationships among members of the corporate elite. Our findings provide a balanced view of the positive and negative influence of intra- and inter-firm relationships of corporate elite members on organizational outcomes. [ABSTRACT FROM AUTHOR]

Background: Healthcare organizations are extremely complex. The work of their CEOs is particularly demanding, especially in the public sector, though little is known about how the managerial work of a healthcare organization CEO unfolds. Drawing from scholarship on managerial work and management in pluralistic organizations, we sought to answer the questions: What is the content of managerial work of CEOs in public healthcare in Italy? How do healthcare CEOs perform their managerial work in complex interactions with multiple stakeholders?Methods: For this study we adopted a multi-method approach in which we conducted a survey to investigate CEO behaviors, tracked CEO working time for 4 weeks, and conducted semi-structured interviews with senior CEOs.Results: CEOs in public healthcare devote most of their time to interaction, which half of which is perceived as being occupied with apparently mundane problems. Nonetheless, devoting time to such activities is functional to a CEO's goals because change in pluralistic contexts can be achieved only if the CEO can handle the organization's complexity. CEOs do this by engaging in routines and conversations with professionals, creating consensus, and establishing networks with external stakeholders.Conclusions: CEOs are called to reduce fragmentation and foster cooperation across disciplines and professional groups, with the overarching aim to achieve integrated care. Using an analytical approach we were able to take into account the context and the relational dimension of the managerial work of healthcare CEOs and the specificities of this role.Trial Registration: This article does not report the results of a healthcare intervention on human participants, and the material used in the research did not require ethical approval according to Italian law. [ABSTRACT FROM AUTHOR]

We use rich data on all business, economics, and engineering graduates in Sweden to study the lack of women among chief executive officers (CEOs). A comprehensive battery of graduates' characteristics explains 40% of the gender gaps in CEO appointments and 60% among graduates with children. The explanatory power mostly comes from absences and unemployment, which are about twice as likely for women as men. These gender differences increase following childbirth, and they persist in the long run. We present and discuss potential explanations to the explained and remaining gaps. Although the large unexplained share makes it hard to pinpoint the exact reason for the gender gap in CEO appointments, the large contribution of labor market attachment to the explained share suggests work–family trade‐offs are an important part of the story. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to investigate how chief executive officer (CEO) gender relates to financial performance in small and medium enterprises (SMEs) in a Latin American emerging economy like Chile. Design/methodology/approach: The authors apply a questionnaire on a sample of 188 SMEs in Chile in 2017. The authors apply multiple ordinary least squares regression models to test the effects of CEO gender on SME performance using the industry location indicators to account for unobserved heterogeneity in the sample. As a robustness test the authors use hierarchical regression analysis. Findings: The authors find a positive relationship between the presence of female CEOs and firm performance. Then, when probing whether the sociodemographic characteristics of the CEO are related to firm performance or moderate the gender-performance relationship, the authors do not find statistically significant evidence that these types of characteristics affect the performance of SMEs. Originality/value: To the best of the authors' knowledge, the present study is the first to investigate the relationship between CEO gender and financial performance of SMEs in an emerging Latin American economy. The study contributes to the general literature by reporting comparable evidence with studies in developed economies. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach: This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings: Smaller SMEs in emerging nations can improve performance levels when a female CEO is appointed. However, they should be aware that the impact of other socio-demographic factors both individually and in combination with gender in this regard is likely to be relatively insignificant. Originality/value: The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format. [ABSTRACT FROM AUTHOR]

The idea that a firm's degree of internationalization shapes its governance structure is a consequential phenomenon examined in strategic management and international business research. Sanders and Carpenter (Acad Manag J 41(2):158–178, 1998) was one of the first studies to comprehensively consider this phenomenon by finding that firms cope with the uncertainty of internationalization by granting CEOs higher and longer-term pay, constructing larger top management teams, constructing larger and more independent board of directors, and separating the CEO and chairman of the board positions. Given that firm governance structures have substantially changed over the past few decades, our study revisits these relationships by conducting a replication of Sanders and Carpenter (1998). Our results find general support for Sanders and Carpenter's (1998) central premise that internationalization shapes firm governance structures but also highlight important non-findings that reflect how the internationalization-governance relationship has changed since their study. Based on the findings of our replication, we also extend Sanders and Carpenter's (1998) framework and find that firms have more recently coped with the uncertainty of internationalization by hiring CEOs with international experience and hiring a more internationally diverse board of directors. We also provide insights on important boundary conditions of the non-replicated results in our study. [ABSTRACT FROM AUTHOR]

Distinguishing between status spillovers and status ripples, we argue that sudden positive status shifts create status ripples when the social actors experiencing the status shifts are more constrained from exploiting their higher status than the social actors to whom they are affiliated. Specifically, we examine the status ripple paradox that the status effects experienced by the affiliated actors sometimes are as strong, or even stronger, as the direct status effects experienced by the ascending actors themselves. Focusing empirically on prestigious CEO awards from U.S. news magazines, we examine the consequences of positive status shifts for the awarded CEOs and the CEOs who are on the boards of directors of the awarded CEOs' firms. We find evidence of status ripples in CEO compensation by showing that awarded CEOs have relatively greater immediate but smaller subsequent increases in compensation, which results in lower overall compensation effects for the awarded CEOs. Moreover, we provide empirical evidence of the theoretical mechanisms behind the status ripple paradox by showing that external constraints in the form of increased media and analyst attention and increased expectations affect the status ripple effect. [ABSTRACT FROM AUTHOR]

This research examines the relationship between the individual characteristics of the CEO/CFO and the usage of management accounting techniques (MATs). The essence of Upper Echelons Theory (UET) states that top management characteristics can influence the prediction of organizational outcomes. Based on this statement, we hypothesize that CFO/CEO education, experience and the participation of accountants in the processes of strategic decision making are important determinants in the use of MATs. The analysis of MATs was done based on the IFAC (1998) study, by dividing all MATs into four stages: Stage I: Cost determination and financial control (5 units); Stage II: Information on managerial planning and control (8 units); Stage III: Reduction of waste in business resources (4 units); and Stage IV: Creation of value through effective resource use (9 units). Our empirical analysis is based on a survey of 154 small, medium, and large-sized Kosovar manufacturing enterprises. A Chi-squared test, regression analysis, t-test, and determination coefficients are used for the evaluation of the models performed, as well as to prove the importance of the factors and testing the hypotheses raised in the study. The results of the study showed that the experience of CFO and CEO expressed in years had a positive relationship with the frequency of MATs usage, with the exception of the MATs for the fourth Stage, meaning that the less experienced the executive and financial director, the more frequent the use of the MATs of the fourth Stage. Executive and financial directors of business, economics, and engineering fields tend to use MATs of the second, third, and fourth Stage, compared with those in other fields. Positive connections for the estimated coefficients showed that the higher the involvement of accountants in strategic decision-making processes, the more frequent the use of managerial accounting techniques of Stages I, II, II and IV. [ABSTRACT FROM AUTHOR]

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We construct preferences toward risk and uncertainty as reflected in the cultural heritage of chief executive officers (CEOs) managing public firms in the United States. We demonstrate that auditors take into account the cultural traits of CEOs in the pricing of their audit services. We also show that CEO cultural heritage is associated with a firm's misreporting, internal control weakness, and accounting conservatism. The results are robust to controlling for other known attributes of CEOs, firm characteristics, and corporate governance. Our study contributes to research on corporate risk culture, CEO characteristics, and determinants of the pricing of audit services and financial reporting quality. [ABSTRACT FROM AUTHOR]