全球智库信息集成服务系统(G2TT): Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w17590
来源ID	Working Paper 17590
	Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles
	Antoinette Schoar; Luo Zuo
发表日期	2011-11-10
出版年	2011
语种	英语
摘要	We show that economic conditions when managers enter the labor market have long-run effects on their career paths and managerial styles. Managers who began their careers during recessions become CEOs more quickly, but at smaller firms. They also have more conservative styles, such as lower investment in capital expenditures and research and development, more cost cutting, and lower leverage and working capital needs. These recession effects appear to be largely driven by the characteristics of the CEO’s first job (recession CEOs tend to start in smaller or private firms), which suggests that the early work environment is important to the formation and selection of managers.
主题	Microeconomics ; Households and Firms ; Financial Economics ; Corporate Finance
URL	https://www.nber.org/papers/w17590
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/575265
推荐引用方式 GB/T 7714	Antoinette Schoar,Luo Zuo. Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles. 2011.