Not logged in.
Quick Search - Contribution
Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | Competing with Superstars |
| Organization Unit | |
| Authors |
|
| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
|
| Journal Title | Management Science |
| Publisher | Institute for Operations Research and the Management Science |
| Geographical Reach | international |
| ISSN | 0025-1909 |
| Volume | 62 |
| Number | 10 |
| Page Range | 2842 - 2858 |
| Date | 2016 |
| Abstract Text | This paper investigates the effect of superstar chief executive officers (CEOs) on their competitors. Exploiting shocks to CEO status due to prestigious media awards, we document a significant positive stock market performance of competitors of superstar CEOs subsequent to the award. The effect is more pronounced for competitors who have not received an award themselves, who are geographically close to an award winner, and who are not entrenched. We observe an increase in risk taking, operating performance, and innovation activity of superstars’ competitors as potential channels for this positive performance. Our results suggest a positive overall welfare impact of corporate superstar systems due to the incentivizing effect on superstars’ competitors. |
| Digital Object Identifier | 10.1287/mnsc.2015.2266 |
| Other Identification Number | merlin-id:14675 |
| Export |
BibTeX
EP3 XML (ZORA)
|