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From Playground to Boardroom: Endowed Social Status and Managerial Performance

Abstract 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 CE... (more)
Created Date 2018
Contributor Du, Fangfang (Author) / Babenko, Ilona (Advisor) / Bates, Thomas (Advisor) / Tserlukevich, Yuri (Committee member) / Wang, Jessie (Committee member) / Arizona State University (Publisher)
Subject Finance / endowed social status / family wealth / firm performance / managerial style
Type Doctoral Dissertation
Extent 100 pages
Language English
Reuse Permissions All Rights Reserved
Note Doctoral Dissertation Business Administration 2018
Collaborating Institutions Graduate College / ASU Library
Additional Formats MODS / OAI Dublin Core / RIS

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Description Dissertation/Thesis