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By matching a CEO's place of residence in his or her formative years with U.S. Census survey data, I obtain an estimate of the CEO's family wealth and study the link between the CEO's endowed social status and firm performance. I find that, on average, CEOs born into poor families

By matching a CEO's place of residence in his or her formative years with U.S. Census survey data, I obtain an estimate of the CEO's family wealth and study the link between the CEO's endowed social status and firm performance. I find that, on average, CEOs born into poor families outperform those born into wealthy families, as measured by a variety of proxies for firm performance. There is no evidence of higher risk-taking by the CEOs from low social status backgrounds. Further, CEOs from less privileged families perform better in firms with high R&D spending but they underperform CEOs from wealthy families when firms operate in a more uncertain environment. Taken together, my results show that endowed family wealth of a CEO is useful in identifying his or her managerial ability.
ContributorsDu, Fangfang (Author) / Babenko, Ilona (Thesis advisor) / Bates, Thomas (Thesis advisor) / Tserlukevich, Yuri (Committee member) / Wang, Jessie (Committee member) / Arizona State University (Publisher)
Created2018
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Firms compete for profitable positions in their technological environments by capitalizing on their design and other capabilities to conceive and realize marketplace strategies more effectively and more efficiently than rivals do. However, research on how technological environment characteristics change the payoff from these capabilities is minimal. Given that possessing superior

Firms compete for profitable positions in their technological environments by capitalizing on their design and other capabilities to conceive and realize marketplace strategies more effectively and more efficiently than rivals do. However, research on how technological environment characteristics change the payoff from these capabilities is minimal. Given that possessing superior firm capabilities is a primary source of competitive advantage for firms, this study seeks to fill these critical research gaps in the literature. This dissertation, which is composed of two essays, seeks to answer what capabilities pay off more in various technological conditions. It benefits from the most comprehensive sample to date that includes 2132 publicly traded firms in the United States (US) over 34 years. All the technological industry conditions are captured by using the entire data of utility patents in the US. The first essay shows that design is a firm capability that enhances sales growth. Its effect, however, is attenuated by technology intensity because, in markets with high technology intensity, design attributes become less salient. Moreover, technological competitive intensity and maturity amplify design capability’s positive effect because when technical attributes of products provide limited differentiation, design attributes receive more attention, and consumers overweight them in decision making. The second essay examines the effect of marketing and research and development (R&D) capabilities on return on assets (ROA) in three technological market conditions: Technological turbulence, uncertainty, and acceleration. It shows that all the technological environments amplify the positive ROA performance outcomes from marketing capability, with technological turbulence having the most potent effect. R&D capability, however, is most influential in technologically accelerating markets. Finally, the second essay unveils that marketing and R&D capabilities are complementary only in technologically turbulent markets. These studies thus provide valuable insights to researchers and managers on the payoff from these capabilities and offer new guidance on which capabilities firms should emphasize on under different technological market conditions.
ContributorsJanani, Saeed (Author) / Wiles, Michael A. (Thesis advisor) / Rubera, Gaia (Committee member) / Mishra, Saurabh (Committee member) / Arizona State University (Publisher)
Created2020