Cardiff University | Prifysgol Caerdydd ORCA
Online Research @ Cardiff 
WelshClear Cookie - decide language by browser settings

Does a CEO's cultural heritage affect performance under competitive pressure?

Nguyen, Duc Duy, Hagendorff, Jens and Eshraghi, Arman 2018. Does a CEO's cultural heritage affect performance under competitive pressure? Review of Financial Studies 31 (1) , pp. 97-141. 10.1093/rfs/hhx046

This is the latest version of this item.

[img] PDF - Accepted Post-Print Version
Download (1MB)

Abstract

We exploit variation in the cultural heritage across U.S. CEOs who are the children or grandchildren of immigrants to demonstrate that the cultural origins of CEOs matter for corporate outcomes. Following shocks to industry competition, firms led by CEOs who are second- or third-generation immigrants are associated with a 6.2% higher profitability compared with the average firm. This effect weakens over successive immigrant generations and cannot be detected for top executives apart from the CEO. Additional analysis attributes this effect to various cultural values that prevail in a CEO’s ancestral country of origin.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Uncontrolled Keywords: CEOs, Cultural values, Competition, Performance, Corporate investments
Publisher: Oxford University Press
ISSN: 0893-9454
Date of First Compliant Deposit: 20 February 2017
Date of Acceptance: 18 January 2017
Last Modified: 29 Jun 2019 03:39
URI: http://orca.cf.ac.uk/id/eprint/101439

Available Versions of this Item

  • Does a CEO's cultural heritage affect performance under competitive pressure? (deposited 15 Jun 2017 08:46) [Currently Displayed]

Citation Data

Cited 4 times in Scopus. View in Scopus. Powered By Scopus® Data

Actions (repository staff only)

Edit Item Edit Item

Downloads

Downloads per month over past year

View more statistics