Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis
This study investigates short-term fluctuations in the CEO effect, measured as the proportion of variance in firm performance attributable to individual CEOs, in response to macroeconomic crises, with a specific focus on the global financial crisis. Utilizing multilevel modeling on a 15-year dataset...
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2024
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| Online Access: | http://hdl.handle.net/10725/17547 https://doi.org/10.1016/j.jbusres.2024.114807 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php https://www.sciencedirect.com/science/article/pii/S0148296324003114 |
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| _version_ | 1864513475281158144 |
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| author | Kleindienst, Ingo |
| author2 | Haj Youssef, Moustafa Harakeh, Mostafa Yu, Mei |
| author2_role | author author author |
| author_facet | Kleindienst, Ingo Haj Youssef, Moustafa Harakeh, Mostafa Yu, Mei |
| author_role | author |
| dc.creator.none.fl_str_mv | Kleindienst, Ingo Haj Youssef, Moustafa Harakeh, Mostafa Yu, Mei |
| dc.date.none.fl_str_mv | 2024 2024-09 2026-01-28T15:24:57Z 2026-01-28T15:24:57Z |
| dc.identifier.none.fl_str_mv | 0148-2963 http://hdl.handle.net/10725/17547 https://doi.org/10.1016/j.jbusres.2024.114807 Kleindienst, I., Youssef, M. H., Harakeh, M., & Yu, M. (2024). Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis. Journal of Business Research, 182, 114807. http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php https://www.sciencedirect.com/science/article/pii/S0148296324003114 |
| dc.language.none.fl_str_mv | en |
| dc.relation.none.fl_str_mv | Journal of Business Research |
| dc.rights.*.fl_str_mv | info:eu-repo/semantics/openAccess |
| dc.title.none.fl_str_mv | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis |
| dc.type.none.fl_str_mv | Article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/article |
| description | This study investigates short-term fluctuations in the CEO effect, measured as the proportion of variance in firm performance attributable to individual CEOs, in response to macroeconomic crises, with a specific focus on the global financial crisis. Utilizing multilevel modeling on a 15-year dataset of US firms and assessing three performance metrics, we identify a significant decline (increase) in the CEO effect on accounting-based (market-based) performance measures (measure) from the pre-crisis to the crisis period, followed by a significant rebound post-crisis. We replicate the analysis using a sample of Chinese firms and find a consistent pattern. Our research advances the CEO effect literature by emphasizing the dynamic nature of the CEO effect in an international context. Our findings highlight that the CEO effect is not static but can undergo short-term fluctuations due to significant changes in the macroeconomic environment. |
| eu_rights_str_mv | openAccess |
| format | article |
| id | LAURepo_abb42487c8d61aed76ba1bd6c21783ee |
| identifier_str_mv | 0148-2963 Kleindienst, I., Youssef, M. H., Harakeh, M., & Yu, M. (2024). Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis. Journal of Business Research, 182, 114807. |
| language_invalid_str_mv | en |
| network_acronym_str | LAURepo |
| network_name_str | Lebanese American University repository |
| oai_identifier_str | oai:laur.lau.edu.lb:10725/17547 |
| publishDate | 2024 |
| repository.mail.fl_str_mv | |
| repository.name.fl_str_mv | |
| repository_id_str | |
| spelling | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisisKleindienst, IngoHaj Youssef, MoustafaHarakeh, MostafaYu, MeiThis study investigates short-term fluctuations in the CEO effect, measured as the proportion of variance in firm performance attributable to individual CEOs, in response to macroeconomic crises, with a specific focus on the global financial crisis. Utilizing multilevel modeling on a 15-year dataset of US firms and assessing three performance metrics, we identify a significant decline (increase) in the CEO effect on accounting-based (market-based) performance measures (measure) from the pre-crisis to the crisis period, followed by a significant rebound post-crisis. We replicate the analysis using a sample of Chinese firms and find a consistent pattern. Our research advances the CEO effect literature by emphasizing the dynamic nature of the CEO effect in an international context. Our findings highlight that the CEO effect is not static but can undergo short-term fluctuations due to significant changes in the macroeconomic environment.Published2026-01-28T15:24:57Z2026-01-28T15:24:57Z20242024-09Articleinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article0148-2963http://hdl.handle.net/10725/17547https://doi.org/10.1016/j.jbusres.2024.114807Kleindienst, I., Youssef, M. H., Harakeh, M., & Yu, M. (2024). Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis. Journal of Business Research, 182, 114807.http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.phphttps://www.sciencedirect.com/science/article/pii/S0148296324003114enJournal of Business Researchinfo:eu-repo/semantics/openAccessoai:laur.lau.edu.lb:10725/175472026-01-28T15:24:57Z |
| spellingShingle | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis Kleindienst, Ingo |
| status_str | publishedVersion |
| title | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis |
| title_full | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis |
| title_fullStr | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis |
| title_full_unstemmed | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis |
| title_short | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis |
| title_sort | Does the CEO effect differ in times of crisis? Evidence from US and China during the global financial crisis |
| url | http://hdl.handle.net/10725/17547 https://doi.org/10.1016/j.jbusres.2024.114807 http://libraries.lau.edu.lb/research/laur/terms-of-use/articles.php https://www.sciencedirect.com/science/article/pii/S0148296324003114 |