Does CEO Extraversion Pay Off When in Need? Evidence From the Global Financial Crisis

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aut.relation.articlenumber101234
aut.relation.endpage101234
aut.relation.journalThe British Accounting Review
aut.relation.startpage101234
dc.contributor.authorLiao, Shushu
dc.contributor.authorNguyen, Nhut H
dc.contributor.authorTruong, Cameron
dc.date.accessioned2024-06-27T02:37:33Z
dc.date.available2024-06-27T02:37:33Z
dc.date.issued2023-07-07
dc.description.abstractWe examine the effect of CEO extraversion on corporate performance during the Global Financial Crisis (GFC). Contrary to the expectation that extraverted CEOs should shield firms better from GFC adversities, we document that the extraversion characteristic of CEOs places a significant, though negative, effect on corporate performance during the financial crisis. Our findings are robust to controlling for other CEO personality traits. We also perform a battery of robustness tests and validate the underperformance of firms with extraverted CEOs during the GFC using stock returns and measures of operating performance. We argue that because extraverted CEOs are associated with heightened firm risk profile, this can hurt firms when the market disciplines excessive risk-taking during the crisis.
dc.identifier.citationThe British Accounting Review, ISSN: 0890-8389 (Print); 1095-8347 (Online), Elsevier BV, 101234-101234. doi: 10.1016/j.bar.2023.101234
dc.identifier.doi10.1016/j.bar.2023.101234
dc.identifier.issn0890-8389
dc.identifier.issn1095-8347
dc.identifier.urihttp://hdl.handle.net/10292/17722
dc.languageen
dc.publisherElsevier BV
dc.relation.urihttps://www.sciencedirect.com/science/article/pii/S0890838923000811
dc.rights© 2023 The Authors. Published by Elsevier Ltd on behalf of British Accounting Association. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
dc.rights.accessrightsOpenAccess
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject3501 Accounting, Auditing and Accountability
dc.subject3502 Banking, Finance and Investment
dc.subject35 Commerce, Management, Tourism and Services
dc.subject3507 Strategy, Management and Organisational Behaviour
dc.subject1501 Accounting, Auditing and Accountability
dc.subjectAccounting
dc.subject3501 Accounting, auditing and accountability
dc.subject3502 Banking, finance and investment
dc.titleDoes CEO Extraversion Pay Off When in Need? Evidence From the Global Financial Crisis
dc.typeJournal Article
pubs.elements-id514887
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