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Three Essays On Ceo Traits, Corporate Investment Decisions, And Firm Value, Rongyao Zhang

Theses and Dissertations in Business Administration

More and more research has shown that the characteristics of top executives, especially CEOs, affect organizational decisions and behaviors. This dissertation primarily focuses on the role of executives’ managerial ability played in firm investment decisions, such as mergers and acquisitions (M&As) and corporate social responsibility (CSR) investment, and firm value.

Essay 1 examines whether high-ability managers’ earnings smoothing is motivated by the need to mitigate the adverse effects of heightened information asymmetry triggered by M&As on managers’ reputation capital and firm value. I document that acquirers with high-ability managers engage in more pre-acquisition earnings smoothing and experience more significant announcement …

Two Essays On Antecedents And Effects Of Award-Winning Ceos, Veronika Ciarleglio

Theses and Dissertations in Business Administration

A vibrant stream of research in strategic management examines CEO reputation, status, media coverage, and awards on firm outcomes.

This dissertation examines antecedents that impact the likelihood of CEOs gaining higher visible status —such as winning awards — and the impact of such status on firm behavior. The dissertation addresses these issues in two essays.

In the first essay, we use signaling theory to frame the impact of industry characteristics, firm level strategic initiatives, and demographic factors on the likelihood of CEOs winning awards. Specifically, in this essay we examine how industry structure, corporate social responsibility (CSR) initiatives, business strategies, …