CEO statements on racial inequity – (how) do they matter to shareholders?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Pyemo Afego ◽  
Imhotep Alagidede
Keyword(s):  
Chief Executive Officers ◽  
Social Issues ◽  
Chief Executive ◽  
Future Research ◽  
Research Approach ◽  
Content Type ◽  
Racial Injustice ◽  
Communication Decisions ◽  
Executive Officers ◽  
The Impact

Purpose The purpose of this study is to explore how citizen protests against perceived acts of racial injustice impact on share prices of companies who weigh in on the protests. In particular, corporate statements that directly address the issues around the protests are identified and possible mechanisms underlying how these may impact shareholder value are discussed. Design/methodology/approach The authors first use a qualitative research approach of content and sentiment analysis to track how companies or their chief executive officers (CEOs) present their stance against racial injustice, as represented by their use of linguistic markers. Then, the authors use an event study methodology to assess the response from stock market participants. Findings The findings suggest that CEOs primarily convey their stance using language that is emotive and empathic. In addition, shareholders earn a significant abnormal return of 2.13%, on average, in the three days following the release of the statements. Research limitations/implications This study considered only US-listed companies. The sample size, also, is relatively small. Institutional and cultural differences across countries may also vary. Thus, future research could explore the extent to which the findings generalize to other contexts. Practical implications Results provide insights to top managers who communicate with various stakeholders on emotionally charged social issues. Findings also offer insights on the timing of trades for investors and arbitrageurs. Social implications Findings contribute to the understanding of corporate behaviour in times of social upheaval. Insights from the study may also be used to inform corporate communication decisions about important social issues. Originality/value This study brings into focus the role that affective appeal and moral emotion can play in evoking motivation for corporate activism, and the impact that this has on investor opinions’ formation process.

scholarly journals An empirical analysis of construction organisations’ competitive strategies and performance

2015 ◽  
Vol 5 (4) ◽  
pp. 417-431 ◽  
Author(s):  
Luqman Oyekunle Oyewobi ◽  
Abimbola Oluwakemi Windapo ◽  
Rotimi Olabode Bamidele James
Keyword(s):  
South Africa ◽  
Financial Performance ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
Research Approach ◽  
Competitive Strategies ◽  
Content Type ◽  
Study Results ◽  
Financial Performance Measures ◽  
Executive Officers

Purpose – The essence of strategy formulation is to assist an organisation obtain a strategic fit with its environment and help enhance organisational continuous improvement in achieving performance excellence. The purpose of this paper is to investigate the type of competitive strategies used by construction organisations in attaining their strategic goals in South Africa. Design/methodology/approach – The study employs an inductive research approach using a well-structured questionnaire to elicit information from large construction organisations based in South Africa. Findings – The research identifies five strategic attributes that could assist organisations to grow their businesses and enhance their returns. It reveals that all Porters’ generic competitive strategies are significantly related to organisational financial performance measures except focus strategy. The research found that three generic competitive strategies are positively related to non-financial performance and that differentiation and cost-leadership strategies are capable of assisting organisations’ achieve their financial performance goals. Practical implications – The study results will be of immense benefit to chief executive officers as well as managers of construction organisations in growing their businesses and enhancing their corporate performance. Originality/value – The paper contributes both theoretically and empirically to the current discussion and findings on competitive strategy and its relationship with organisational performance. The results presented in the paper have important implications for the implementation of competitive strategies in construction companies and future studies in the area of strategic management.

Corporate dispersion and tax avoidance

2019 ◽  
Vol 13 (3) ◽  
pp. 706-732 ◽  
Author(s):  
Kun Su ◽  
Bin Li ◽  
Chen Ma
Keyword(s):  
Internal Control ◽  
Chief Executive Officers ◽  
Tax Avoidance ◽  
Chief Executive ◽  
Corporate Tax ◽  
Content Type ◽  
Listed Firms ◽  
Corporate Governance Mechanisms ◽  
Executive Officers ◽  
The Impact

Purpose The purpose of this paper is to investigate the effects of corporate dispersion on tax avoidance from geographical and institutional dispersion perspectives by using evidence from China. Design/methodology/approach Using a panel data of Chinese listed firms during 2003-2015, this paper estimates with correlation analysis and multiple regression analysis. Findings Both geographical and institutional dispersion are negatively associated with the degree of corporate tax avoidance. Furthermore, corporate governance mechanisms and female chief executive officers can mitigate the negative relation between corporate dispersion and tax avoidance. The results also indicate that ineffective internal control is one of the channels through which corporate dispersion reduces tax avoidance. Originality/value This is the first paper about the impact of firm dispersion on the degree of tax avoidance, complementing the research content of diversification and corporate decision-making.

Manager traits and quality-of-care performance in hospitals

2015 ◽  
Vol 28 (3) ◽  
pp. 200-215 ◽  
Author(s):  
Kjeld Harald Aij ◽  
René L.M.C. Aernoudts ◽  
Gepke Joosten
Keyword(s):  
Quality Of Care ◽  
Organizational Performance ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
Content Type ◽  
Lean Transformation ◽  
Executive Officers ◽  
The Impact ◽  
Care Performance

Purpose – This paper aims to assess the impact of the leadership traits of chief executive officers (CEOs) on hospital performance in the USA. The effectiveness and efficiency of the CEO is of critical importance to the performance of any organization, including hospitals. Management systems and manager behaviours (traits) are of crucial importance to any organization because of their connection with organizational performance. To identify key factors associated with the quality of care delivered by hospitals, the authors gathered perceptions of manager traits from chief executive officers (CEOs) and followers in three groups of US hospitals delivering different levels of quality of care performance. Design/methodology/approach – Three high- and three low-performing hospitals were selected from the top and bottom 20th percentiles, respectively, using a national hospital ranking system based on standard quality of care performance measures. Three lean hospitals delivering intermediate performance were also selected. A survey was used to gather perceptions of manager traits (providing a modern or lean management system inclination) from CEOs and their followers in the three groups, which were compared. Findings – Four traits were found to be significantly different (alpha < 0.05) between lean (intermediate-) and low-performing hospitals. The different perceptions between these two hospital groups were all held by followers in the low-performing hospitals and not the CEOs, and all had a modern management inclination. No differences were found between lean (intermediate-) and high-performing hospitals, or between high- and low-performing hospitals. Originality/value – These findings support a need for hospital managers to acquire appropriate traits to achieve lean transformation, support a benefit of measuring manager traits to assess progress towards lean transformation and lend weight to improved quality of care that can be delivered by hospitals adopting a lean system of management.

CEO characteristics: do they matter for carbon performance? An empirical investigation of Australian firms

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jibriel Elsayih ◽  
Rina Datt ◽  
Ali Hamid
Keyword(s):  
Chief Executive Officers ◽  
Chief Executive ◽  
Content Type ◽  
Upper Echelons Theory ◽  
Ceo Tenure ◽  
Carbon Performance ◽  
Executive Officers ◽  
The Impact ◽  
Industry Experience ◽  
Ceo Characteristics

Purpose Research suggests that chief executive officers (CEOs) play an important role in enhancing a firm’s legitimacy with regard to environmental performance. The purpose of this paper is to use the upper echelons theory and stakeholder theory to investigate whether the characteristics of CEOs are associated with carbon performance (CP). Design/methodology/approach This paper uses a sample of 128 firm-year observations from Australian companies that participated in the carbon disclosure project from 2011 through 2014. Findings Two-stage least squares estimation reveals that CEO executive experience and CEO duality are positively associated with CP. By contrast, CEO tenure, CEO functional background experience and CEO industry experience are negatively related to CP, and CEO ownership is not related to CP. Practical implications The results might provide evidence for investors, policymakers and regulators with respect to the effectiveness of CEO characteristics for addressing carbon risks and possible linkages between CEO characteristics and carbon emission levels. In addition, the results give support CEO accountability regarding the carbon emissions. Originality/value This study provides the first empirical evidence of the impact of CEO characteristics on CP. Furthermore, this study contributes to the existing literature by showing how the characteristics of CEOs can impact corporate CP and provides a more in-depth understanding of whether such characteristics play important roles in determining corporate carbon action.

Employee’s perspective towards strategy execution in facility management in Thailand

Facilities ◽  
2016 ◽  
Vol 34 (11/12) ◽  
pp. 682-702 ◽  
Author(s):  
Rapeerat Thanyawatpornkul ◽  
Sununta Siengthai ◽  
Lalit M. Johri
Keyword(s):  
Chief Executive Officers ◽  
Chief Executive ◽  
Facility Management ◽  
Research Approach ◽  
Strategy Execution ◽  
Content Type ◽  
Information Accessibility ◽  
Leading Position ◽  
Executive Officers ◽  
Reward And Recognition

Purpose There is limited empirical research that investigates issues related to strategy and its execution in facility management (FM) business especially in Thailand. Thus, the purpose of this study is to examine the factors influencing the execution of the strategy of FM companies located in Thailand from employees’ perspective. Design/methodology/approach This study used a qualitative research approach. Five FM companies, both foreign and Thai firms, were selected as case studies in this research because of information accessibility and their leading position and reputation in the FM industry in Thailand. The interviews were conducted with the companies’ Chief Executive Officers (CEOs), directors, managers, officers, engineers, technicians and administrators. Findings The findings indicate that communication, training and development, as well as reward and recognition, are the three main and critical factors in executing the company’s strategy from the employees’ perspective in the FM business. Social implications This study suggests that strategy execution should be built upon a long-term relationship with employees, and company management should recognize the employees’ contribution to the company. Management should also raise employees’ knowledge and understanding of the execution of the company strategy. Originality/value This paper provides an enhanced understanding of employees’ perspective toward strategy execution in the FM business. It offers a basis for further study of human resources practices in the context of the FM business.

Board effectiveness in corporate crises: lessons from the evolving empirical research

2014 ◽  
Vol 14 (4) ◽  
pp. 531-542 ◽  
Author(s):  
Gianpaolo Abatecola ◽  
Vincenzo Farina ◽  
Niccolò Gordini
Keyword(s):  
Empirical Research ◽  
Chief Executive Officers ◽  
International Comparisons ◽  
Chief Executive ◽  
Future Research ◽  
Board Effectiveness ◽  
Content Type ◽  
Turnaround Strategies ◽  
Executive Officers ◽  
Corporate Crises

Purpose – This article aims to comment on how the empirical research on board effectiveness in crisis contexts has been evolving over time. Over the years, the empirical evidences have demonstrated that particular board features can improve the survival chances of firms suffering a crisis and, to date, experts agree that discussing these evidences is necessary for the further improvement of knowledge in this field. Design/methodology/approach – This is a critical review article. Findings – Valuable evidences emerge from the review. For example, it seems that board independence has a key role in enhancing the performance of firms suffering a crisis. At the same time, the review suggests that further refinement is needed for supporting (or eventually refuting) the idea that boards and/or Chief Executive Officers (1) must be replaced to achieve successful turnaround strategies. Originality/value – On the basis of its findings, the review also prospects a number of conceptual and methodological implications for the future research and practice about board effectiveness in corporate crises. For example, these implications are associated with future investigations about the executives’ sociodemographic features and personality traits as well. More international comparisons seem also needed to improve the reliability of the extant knowledge.

Tweeting #Leaders

2018 ◽  
Vol 28 (1) ◽  
pp. 123-142 ◽  
Author(s):  
Lei Vincent Huang ◽  
Tien Ee Dominic Yeo
Keyword(s):  
Chief Executive Officers ◽  
Chief Executive ◽  
Study Data ◽  
Supplementary Information ◽  
Message Content ◽  
Theoretical Understanding ◽  
Content Type ◽  
The Usa ◽  
Executive Officers ◽  
The Impact

Purpose To better understand executive communication on social media, the purpose of this paper is to examine the pattern of messages posted by chief executive officers (CEOs) on Twitter and their retweetability (rate of reposting by other users). Design/methodology/approach The study data comprises 1,068 original tweets randomly selected from all Fortune 1000 CEOs’ tweets in 2014. The impact of the contextual factors (industry background, activeness, and Twitter age) and content factors (content types, supplementary information, and linguistic features) on retweetability was examined through regression analyses. Findings CEOs tweet to share information and insights, to promote their companies or products, to update work or life status, and to interact with the public. Original insights, promotional messages, and seasonal greetings were most likely to be retweeted. CEOs’ backgrounds, usage of hashtags, and certainty of language were also positively associated with retweetability. Practical implications CEOs may enhance their online social influence through demonstrating leadership by sharing insights about their organization or industry and posting topical messages (e.g. season’s greetings). Furthermore, CEOs could use hashtags strategically to initiate or participate in discussions and promote their personal visibility. Originality/value This study is one of the first to evaluate how leaders of the largest companies in the USA communicate on Twitter. It contributes to a theoretical understanding of the factors underlying online influence – the influence of the status of the online communicator vs the message content on information forwarding.

Healthcare managers’ construction of the manager role in relation to the medical profession

2016 ◽  
Vol 30 (3) ◽  
pp. 421-440 ◽  
Author(s):  
Mia von Knorring ◽  
Kristina Alexanderson ◽  
Miriam A Eliasson
Keyword(s):  
Chief Executive Officers ◽  
Medical Profession ◽  
Chief Executive ◽  
Healthcare Management ◽  
Role Taking ◽  
Content Type ◽  
Manager Role ◽  
Executive Officers ◽  
Managerial Level ◽  
The Impact

Purpose – The purpose of this paper is to explore how healthcare managers construct the manager role in relation to the medical profession in their organisations. Design/methodology/approach – In total, 18 of Sweden’s 20 healthcare chief executive officers (CEOs) and 20 clinical department managers (CDMs) were interviewed about their views on management of physicians. Interviews were performed in the context of one aspect of healthcare management; i.e., management of physicians’ sickness certification practice. A discourse analysis approach was used for data analysis. Findings – Few managers used a management-based discourse to construct the manager role. Instead, a profession-based discourse dominated and managers frequently used the attributes “physician” or “non-physician” to categorise themselves or other managers in their managerial roles. Some managers, both CEOs and CDMs, shifted between the management- and profession-based discourses, resulting in a kind of “yes, but […]” approach to management in the organisations. The dominating profession-based discourse served to reproduce the power and status of physicians within the organisation, thereby rendering the manager role weaker than the medical profession for both physician and non-physician managers. Research limitations/implications – Further studies are needed to explore the impact of gender, managerial level, and basic profession on how managers construct the manager role in relation to physicians. Practical implications – The results suggest that there is a need to address the organisational conditions for managers’ role taking in healthcare organisations. Originality/value – Despite the general strengthening of the manager position in healthcare through political reforms during the last decades, this study shows that a profession-based discourse clearly dominated in how the managers constructed the manager role in relation to the medical profession on the workplace level in their organisations.

scholarly journals Impact of Electricity Service Quality on the Performance of Manufacturing SMEs in Nigeria

2017 ◽  
Vol 3 (1) ◽  
pp. 1-10
Author(s):  
Abdulrahman Muhammed ◽  
Issa Abdulraheem ◽  
Ismaila Yusuf
Keyword(s):  
Service Quality ◽  
Financial Performance ◽  
Chief Executive Officers ◽  
Small And Medium Enterprises ◽  
Chief Executive ◽  
Future Research ◽  
Simple Regression Analysis ◽  
Executive Officers ◽  
Medium Enterprises ◽  
The Impact

Purpose: The objective of this paper is to determine the impact of electricity service quality on both financial and non-financial performance of manufacturing Small and Medium Enterprises SMEs in Nigeria. Design/Methodology/Approach: Survey questionnaire was used to collect data from 201 Managers, Chief executive officers and owner managers of SMEs that are members of Manufacturers Association of Nigeria MAN. Simple regression analysis was done with the use of SPSS version 22.0. Findings: The results indicate that quality of electricity tends to account for more than 50% of the variances in the financial and non-financial performance of manufacturing SMEs in Nigeria. Implications/Originality/Value: This paper contributes to the existing literature on the empirical investigation into the use of service quality as a measure of electricity service and also emphasizes the importance of electricity to the performance of manufacturing SMEs in the developing countries. It recommends that future research may consider collecting longitudinal data to eliminate bias related to time.

CEO social capital and contingency pay: a test of two perspectives

2015 ◽  
Vol 15 (4) ◽  
pp. 476-490 ◽  
Author(s):  
Russell Fralich ◽  
Hong Fan
Keyword(s):  
Social Capital ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
Agency Cost ◽  
Content Type ◽  
Equity Compensation ◽  
Theoretical Perspectives ◽  
Executive Officers ◽  
The Impact

Purpose – This paper aims to provide greater understanding of how the composition of pay reduces agency cost to the shareholders by examining how firms pay their chief executive officers (CEOs). More specifically, this study examines the relationship between CEOs’ social capital, measured as external directorships, and their contingency pay, the proportion of their compensation that depends on achieving long-term performance goals. Design/methodology/approach – The authors use a panel sample of Standard & Poor 500 CEOs to test two contrasting theoretical perspectives. From a board perspective, boards attempt to retain executives with more social capital working longer for the firms to utilize executives’ social capital and pay them more in the form of contingency pay. The CEO power perspective argues that CEOs wield social capital as a form of power to lower contingency pay in an attempt at preserving wealth. Findings – CEO social capital does not exacerbate agency pressures. Boards reward the long-term benefits of social capital accumulated by CEOs through higher proportions of contingency pay. Research limitations/implications – The authors considered CEOs of well-capitalized, publicly-traded US-based firms. So the results may not generalizable to other contexts. Practical implications – Boards do recognize and reward CEOs for their social capital, and use higher levels of contingency pay to lock in CEOs with social capital. Originality/value – This is the first study to explicitly examine the impact of CEO social capital on both non-equity and equity compensation.

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