Time Encoding in Languages and Investment Efficiency

2020 ◽  
Author(s):  
Jaehyeon Kim ◽  
Yongtae Kim ◽  
Jian Zhou
Keyword(s):  
Chief Executive Officers ◽  
Investment Decisions ◽  
Chief Executive ◽  
Investment Efficiency ◽  
Grammatical Structure ◽  
The Future ◽  
Time Encoding ◽  
Country Analysis ◽  
Cross Country ◽  
Executive Officers

Linguistics research shows that languages differ as to how they differentiate future from present events. Economics research finds that when the grammatical structure of a language disassociates the future from the present, speakers of the language also disassociate the future from the present in their behaviors. This study examines how linguistically induced time perception relates to cross-country variation in investment efficiency. We find that underinvestment is less prevalent in countries where there is a weaker time disassociation in the language. The results from both a within-country analysis based on firms headquartered in different regions of Switzerland and an analysis based on the birthplace information of U.S. firms’ chief executive officers confirm the relation between languages and investment efficiency. Collectively, the results suggest that time encoding in languages influences speakers’ cognition and their investment decisions. This paper was accepted by Shivaram Rajgopal, accounting.

scholarly journals On the Importance of Golden Parachutes

2013 ◽  
Vol 48 (6) ◽  
pp. 1717-1753 ◽  
Author(s):  
Eliezer M. Fich ◽  
Anh L. Tran ◽  
Ralph A. Walkling
Keyword(s):  
Moral Hazard ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
Expected Value ◽  
Personal Gain ◽  
Golden Parachutes ◽  
The Future ◽  
Executive Officers

AbstractIn acquisitions, target chief executive officers (CEOs) face a moral hazard: Any personal gain from the deal could be offset by the loss of the future compensation stream associated with their jobs. Larger, more important parachutes provide greater relief for these losses. To explicitly measure the moral hazard target CEOs face, we standardize the parachute payment by the expected value of their acquisition-induced lost compensation. We examine 851 acquisitions from 1999–2007, finding that more important parachutes benefit target shareholders through higher completion probabilities. Conversely, as parachute importance increases, target shareholders receive lower takeover premia, while acquirer shareholders capture additional rents from target shareholders.

scholarly journals International workshop on the future of community child healthcare

2019 ◽  
Vol 8 (1) ◽  
Author(s):  
Zachi Grossman ◽  
Boaz Porter ◽  
Joseph Meyerovitch ◽  
Lisa Rubin ◽  
Jacob Kuint ◽  
...  
Keyword(s):  
Chief Executive Officers ◽  
International Workshop ◽  
Chief Executive ◽  
Local Policy ◽  
Policy Makers ◽  
Academic Advancement ◽  
The Future ◽  
Child Healthcare ◽  
Executive Officers ◽  
International Experts

AbstractIncreasing numbers of children with developmental, emotional, and psychosocial issues require adaptation of the services provided by pediatricians in the community. An international workshop that took place in Israel on June 3–4, 2019, addressed this need. Local policy makers and international experts discussed the following topics: (1) the future of training in community pediatrics; (2) enhancing the prestige of the community pediatrician; (3) development of management and research skills; (4) academic advancement within community pediatrics; (5) the future content of community pediatric practice; (6) visit length and community pediatricians’ reimbursement; (7) developing the collaborative model of care in community pediatrics and (8) integrating child healthcare. The meeting provided a venue to understand the challenges and to formulate recommendations to policymakers. A key target highlighted was the increased exposure of all pediatric residents to community pediatrics. This gained the support of the Chief Executive Officers of all four Health Funds in Israel. This document provides a synopsis of the topics addressed and suggested recommendations.

Managing the Future: CEO Attention and Innovation Outcomes

2007 ◽  
Vol 71 (4) ◽  
pp. 84-101 ◽  
Author(s):  
Manjit S. Yadav ◽  
Jaideep C. Prabhu ◽  
Rajesh K. Chandy
Keyword(s):  
Chief Executive Officers ◽  
New Technologies ◽  
Chief Executive ◽  
Retail Banking ◽  
High Tech ◽  
The Future ◽  
Long Term Impact ◽  
Executive Officers ◽  
Positive Direct ◽  
Innovation Outcomes

The current literature presents a mixed view of top managers, often characterizing them as an impediment to innovation, irrelevant for innovation, or, at best, having an indirect effect on innovation. In contrast, the authors use an attentional perspective to argue that chief executive officers (CEOs) have a positive, direct, and long-term impact on how firms detect, develop, and deploy new technologies over time. The authors test their arguments on longitudinal data from the U.S. retail banking industry. They show that CEO attention is a critical driver of innovation even (1) when the target of attention is not innovation per se but simply future events and external events in a generic sense; (2) when the innovation outcomes occur far in the future (sometimes several years in the future); (3) when the innovation outcomes are conceptually, empirically, and temporally distinct; and (4) in an empirical context (i.e., banking) that is not traditionally viewed as “high tech” and, thus, innovation centric.

Effect of leadership styles on organizational commitment and performance in small- and medium-sized enterprises in Iraqi Kurdistan

2020 ◽  
Vol 48 (9) ◽  
pp. 1-12
Author(s):  
Karwan Hamasalih Qadir ◽  
Mehmet Yeşiltaş
Keyword(s):  
Organizational Commitment ◽  
Organizational Performance ◽  
Leadership Styles ◽  
Chief Executive Officers ◽  
Chief Executive ◽  
Mediating Effect ◽  
Positive Effects ◽  
Iraqi Kurdistan ◽  
And Performance ◽  
Executive Officers

Since 2003 the number of small- and medium-sized enterprises (SMEs) has increased exponentially in Iraqi Kurdistan. To facilitate further growth the owners and chief executive officers of these enterprises have sought to improve their leadership skills. This study examined the effect of transactional and transformational leadership styles on organizational commitment and performance in Iraqi Kurdistan SMEs, and the mediating effect of organizational commitment in these relationships. We distributed 530 questionnaires and collected 400 valid responses (75% response rate) from 115 SME owners/chief executive officers and 285 employees. The results demonstrate there were positive effects of both types of leadership style on organizational performance. Further, the significant mediating effect of organizational commitment in both relationships shows the importance of this variable for leader effectiveness among entrepreneurs in Iraqi Kurdistan, and foreign entrepreneurs engaging in new businesses in the region.

scholarly journals Toward a Working Model of Leadership in Nonprofit Sport Governance

2019 ◽  
Vol 33 (3) ◽  
pp. 189-202 ◽  
Author(s):  
Ian O’Boyle ◽  
David Shilbury ◽  
Lesley Ferkins
Keyword(s):  
Chief Executive Officers ◽  
Leadership Skills ◽  
Chief Executive ◽  
Future Research ◽  
Limited Attention ◽  
Study Approach ◽  
Working Model ◽  
Executive Officers ◽  
Scholarly Discourse

The aim of this study is to explore leadership within nonprofit sport governance. As an outcome, the authors present a preliminary working model of leadership in nonprofit sport governance based on existing literature and our new empirical evidence. Leadership in nonprofit sport governance has received limited attention to date in scholarly discourse. The authors adopt a case study approach involving three organizations and 16 participant interviews from board members and Chief Executive Officers within the golf network in Australia to uncover key leadership issues in this domain. Interviews were analyzed using an interpretive process, and a thematic structure relating to leadership in the nonprofit sport governance context was developed. Leadership ambiguity, distribution of leadership, leadership skills and development, and leadership and volunteerism emerged as the key themes in the research. These themes, combined with existing literature, are integrated into a preliminary working model of leadership in nonprofit sport governance that helps to shape the issues and challenges embedded within this emerging area of inquiry. The authors offer a number of suggestions for future research to refine, test, critique, and elaborate on our proposed working model.

In retrospect: The influence of chief executive officers’ historical relative pay on overconfidence

2021 ◽  
pp. 147612702110048
Author(s):  
J Daniel Zyung ◽  
Wei Shi
Keyword(s):  
Chief Executive Officers ◽  
Empirical Support ◽  
Chief Executive ◽  
Firm Level ◽  
Self Confidence ◽  
Self Worth ◽  
Executive Officers ◽  
Leadership Research ◽  
The Relationship

This study proposes that chief executive officers who have received over their tenure a greater sum of total compensation relative to the market’s going rate become overconfident. We posit that this happens because historically overpaid chief executive officers perceive greater self-worth to the firm whereby such self-serving attribution inflates their level of self-confidence. We also identify chief executive officer- and firm-level cues that can influence the relationship between chief executive officers’ historical relative pay and their overconfidence, suggesting that chief executive officers’ perceived self-worth is more pronounced when chief executive officers possess less power and when their firm’s performance has improved upon their historical aspirations. Using a sample of 1185 firms and their chief executive officers during the years 2000–2016, we find empirical support for our predictions. Findings from this study contribute to strategic leadership research by highlighting the important role of executives’ compensation in creating overconfidence.

scholarly journals Leadership or luck? Randomization inference for leader effects in politics, business, and sports

2021 ◽  
Vol 7 (4) ◽  
pp. eabe3404
Author(s):  
Christopher R. Berry ◽  
Anthony Fowler
Keyword(s):  
Chief Executive Officers ◽  
Chief Executive ◽  
Anecdotal Evidence ◽  
Political Leaders ◽  
Quantitative Test ◽  
Wide Range ◽  
Randomization Inference ◽  
Executive Officers ◽  
Sports Coaches

Anecdotal evidence suggests that some leaders are more effective than others but observed differences in outcomes between leaders could be attributable to chance variation. To solve this inferential problem, we develop a quantitative test of leader effects that provides more reliable inferences than previous strategies, and we implement the test in the settings of politics, business, and sports. We find significant effects of political leaders, particularly in nondemocracies. We find little evidence that chief executive officers influence the performance of their firms. In addition, we find clear evidence that sports coaches matter for a wide range of outcomes in football, basketball, baseball, and hockey.

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