Item Infomation
| Title: | Managing the Family Firm: Evidence from CEOs at Work |
| Publisher: | Oxford University Press (OUP) |
| Description: | We present evidence on the labor supply of CEOs and on whether family and professional CEOs differ on this dimension. We do so through a new survey instrument that allows us to codify CEOs’ diaries in a detailed and comparable fashion and to build a bottom-up measure of CEO labor supply. The comparison of 1,114 family and professional CEOs reveals that family CEOs work 9% fewer hours relative to professional CEOs. Hours worked are positively correlated with firm performance, and differences between family and non-family CEOs account for approximately 18% of the performance gap between family and non-family firms. We investigate the sources of the differences in CEO labor supply across governance types by exploiting firm and industry heterogeneity and quasi-exogenous meteorological and sport events. The evidence suggests that family CEOs value—or can pursue—leisure activities relatively more than professional CEOs.
Layperson summary Accepted Manuscript |
| URI: | http://lib.yhn.edu.vn/handle/YHN/258 |
| Other Identifiers: | Bandiera, Oriana, Renata Lemos, Andrea Prat, and Raffaella Sadun. "Managing the Family Firm: Evidence from CEOs at Work." Review of Financial Studies 31, no. 5 (May 2018): 1605–1653. (Lead article.) 0893-9454 http://nrs.harvard.edu/urn-3:HUL.InstRepos:41845089 10.1093/rfs/hhx138 |
| Appears in Collections | Tài liệu ngoại văn |
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