Matching Items (3)
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- All Subjects: Firm Performance
- All Subjects: family wealth
- Creators: Brandlin, Daniela Patricia
- Creators: Du, Fangfang
- Creators: Jiang, Zhan
Description
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
Description
The purpose of this paper is to examine the existing bodies of research on the validity and value of cognitive intelligence and emotional intelligence in relation to top management teams (TMTs) and how those relate to TMT integration and firm performance. The approach of this paper is an aggregation and summary of empirical research to propose a theoretical model of how emotional intelligence directly relates to firm performance. Findings of several researchers show that cognitive intelligence matters to individual performance across the board and that emotional intelligence matters to leadership, team integration, and firm performance in various contexts. Practical implications are higher levels of emotional intelligence lead to high firm performance by augmenting high cognitive intelligence levels that executives already have. The unique context of top management teams provides original insight into the value of high emotional intelligence when trying to achieve TMT integration in order to reach better firm performance. Propositions and future research directions give way to further solidification of the thesis.
ContributorsBrandlin, Daniela Patricia (Author) / Peterson, Suzanne (Thesis director) / McKinnon, David (Committee member) / Barrett, The Honors College (Contributor) / Department of Management (Contributor) / Hugh Downs School of Human Communication (Contributor)
Created2015-05
Description
This study investigates the performance effects of cross-industry mergers and acquisitions (M&A) using a sample of firms listed in China’s Growth Entrepreses Market (GEM). Compared to firms listed in the Shanghai and Shenzhen Stock Exchanges, firms listed in the GEM are much smaller and tend to derive the majority of their revenues from a single industry. I first analyze the motives for firms listed in the GEM to engage in M&As and propose a set of factors that may influence their likelihood of M&A activities. Using data on 55 cross-industry M&As between January 1, 2012 and December 31, 2016, I find that investor generally responded positively in short-term, as indicated by the positive accumulated abonormal returns over the first five trading days following the announcements. Meanwhile, I found no evidence that investors benefited from cross-industry M&As in long-term over three years after the event. Further analysis suggests that the short-term effects of cross-industry M&As by GEM listed firms were influenced by the target firm’s market valuation, whether the M&A was paid by cash, the amount of the payment, and the degree of difference between the acquiring firm’s and the target firm’s industries. These findings have important implications for the investors and senior executives of firms listed in the GEM.
ContributorsZhou, Wei (Author) / Shen, Wei (Thesis advisor) / Yu, Xiaoyun (Thesis advisor) / Jiang, Zhan (Committee member) / Arizona State University (Publisher)
Created2018