The power of the pen reconsidered: The media,CEO human capital,and corporate governance |
| |
| Institution: | 1. College of Business, Florida State University, 821 Academic Drive, Tallahassee, FL 32306, USA;2. Krannert Graduate School of Management, Purdue University, 403 West State Street, West Lafayette, IN 47907, USA;3. HSBC Business School, Peking University, University Town, Nanshan District, Shenzhen 518055, China;1. School of Computer Science and Statistics, Trinity College Dublin, Ireland;2. School of Electronics and Computer Science, University of Southampton, UK;3. Department of Banking and Finance, Monash Business School, Monash University, Sir John Monash Drive, Melbourne, Australia;4. Monash Business School, Monash University, Australia;5. Southampton Business School, University of Southampton, UK |
| |
| Abstract: | By examining the post-retirement outside board seats held by former CEOs of S&P 1500 firms, we find that CEOs’ post-retirement outside board memberships are influenced by the level and the tone of media coverage given to the CEOs’ firms while the CEOs were “on the job.” These results provide evidence of a direct economic link between media coverage of CEOs’ performance today and CEOs’ future opportunity sets. These results lend support to the proposition that the media can play a role in corporate governance by influencing the value of CEOs’ human capital. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
