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.
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Details
Title
- From Playground to Boardroom: Endowed Social Status and Managerial Performance
Contributors
- Du, Fangfang (Author)
- Babenko, Ilona (Thesis advisor)
- Bates, Thomas (Thesis advisor)
- Tserlukevich, Yuri (Committee member)
- Wang, Jessie (Committee member)
- Arizona State University (Publisher)
Date Created
The date the item was original created (prior to any relationship with the ASU Digital Repositories.)
2018
Resource Type
Collections this item is in
Note
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Doctoral Dissertation Business Administration 2018