Are both managerial morality and talent important to firm performance? Evidence from Chinese public firms

Xiao-zhen, Pan; Tang, Hongfei

doi:10.1016/j.irfa.2020.101602

Cited by 8 publications

(8 citation statements)

References 52 publications

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“…Sun with coauthors report that only 10 .6 % of Chinese CEOs had an MBA degree [Sun et al ., 2021] . However, these economies usually feature a small share of PhD CEOs (5 % in China according to [Pan, Tang, 2021]), which is very different from what one observes in Russia . Another interesting feature to be mentioned here is the low quality of Russian research degrees, at least in Business & Economics, as assessed by A .…”

Section: Highest Level Of Educationcontrasting

confidence: 58%

CEO education in Russia: First systematic evidence and a research agenda

Muravyev¹,

Захарова

2022

RMJ

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We use a novel hand-collected dataset to provide first systematic evidence on CEO education in Russian publicly traded companies over 2009–2020, including its link to other characteristics of CEOs and key attributes of firms. We find that almost all CEOs in Russia have higher education, that PhD degrees are unusually common, while MBA degrees are relatively rare, that CEOs with different levels of education differ among a number of key socio-demographic characteristics and that the appointment of CEOs with various educational levels is systematically related to firm-level attributes, including ownership and governance structure. In particular, PhD CEOs, who are relatively older, are more likely to have prior connections to government and also tend to be chosen by companies with state ownership, while MBA CEOs, who are relatively younger, are more likely to be chosen by companies with foreign ownership. An important implication is that establishing a causal effect of CEO education on firm behavior and performance requires addressing endogeneity problems caused by potential omitted variables at the CEO level and non-random selection of CEOs by different types of firms. The article outlines several areas for future research.

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Section: Highest Level Of Educationcontrasting

confidence: 58%

CEO education in Russia: First systematic evidence and a research agenda

Muravyev¹,

Захарова

2022

RMJ

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“…This kind of organizational pressure to perform does not encourage ethical business cultures. High levels of organizational performance have been attributed to organizations that encourage individual and corporate ethics (Wu, 2002) in the public (Khaltar and Moon, 2020; Rauh, 2020) and private (Nguyen et al , 2020; Pan and Hongfei, 2021) sectors. Organizational culture is illustrated by the practice of publishing firm revenue by adviser, a subtle yet pointed message that the higher the performance, the more prestigious the reputation.…”

Section: Discussionmentioning

confidence: 99%

“Honey, you’ve got to do what’s right”: common ethical decision-making challenges and strategies of licensed financial advisers

Wilcoxson

Craft

2023

QRFM

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Purpose This paper aims to explore the common ethical decision-making challenges faced by financial advisers and how they meet these challenges. The purpose is to identify successful decision-making tools used by investment advisers in doing business ethically. Additionally, the authors uncover common challenges and offer decision-making tools to provide support for supplemental ethics training in the future. Design/methodology/approach Questions were analyzed through a qualitative approach using individual interviews to examine a range of experiences and attitudes of active financial advisers. The sample was represented by 11 practicing financial advisers affiliated with US independent broker-dealers: six women and five men, each with 10 or more years of experience, ranging in age from 35 to 75. Grounded in four ethical decision-making models, this research examines individual ethical decision-making using individual (internal, personal) and organizational (external, situational) factors. Findings The method used uncovered struggles and revealed strategies used in making ethical decisions. Two research questions were examined: what are the common ethical decision-making challenges faced by financial advisers in the US financial industry? How do financial advisers handle ethical decision-making challenges? Four themes emerged that impacted ethical decision-making: needs of the individual, needs of others, needs of the firm and needs of the marketplace. Financial advisers identified moral obligation, self-control and consulting with others as major considerations when they contemplate difficult decisions. Research limitations/implications A limitation of this review is its small sample size. A more robust sample size from investment advisers with a broader range of experiences could have widened the findings from the study. Practical implications Investment advisers can use the findings of this study as a tool for improving their own ethical decision-making or designing training for their employees to be better decision-makers. Originality/value The study explores the decision-making experiences of investment advisers to reveal multifaceted, often private struggles that qualitative methods can uncover. The study provides support for the development of additional training in ethical decision-making specific to investment advisers.

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“…This was due to the strict supervision of the financial authorities, making it difficult to compare financial and non-financial industry reports (Formigoni et al, 2020). Also, 17 state-owned enterprises with losses were excluded from the observations, as this study was to be conducted on SOEs that were in a positive financial condition and hence relevant for comparison (Pan & Tang, 2020). Companies that did not publish annual reports or provide the research information needed were also excluded, resulting in 245 observations.…”

Section: Data and Samplementioning

confidence: 99%

“…The research used panel regression with a random effect model. Winsorizing was carried out at the 1% and 99% levels to overcome outliers and make the sample free from bias, which would affect the results (Pan &Tang, 2020). The research regression model is:…”

Section: Empirical Modelmentioning

confidence: 99%

Characteristics of a Good Board of Directors for Indonesian SOEs Performance

Wardhani

Supratiwi

2023

JIEB

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Introduction/Main Objectives: This research aims to empirically show the positive influence of the board of directors' characteristics on company performance, proxied by female directors, political connections, economic and/or business educational backgrounds, and education levels. Background Problems: Essential characteristics are required to produce quality strategies because they directly affect the performance of SOEs, and Regulation PER-8/MBU/08/2020 of the Minister of SOEs restructures the BOD to increase the proportion of women. Novelty: This research measures SOEs' performance from their financial, administrative, and operational aspects. It comprehensively assesses the dual function of SOEs as public servants and producers of state profits. Research Methods: A total of 245 Indonesian state-owned enterprises were examined between 2014 and 2019 using panel regression with the random effect model. The companies’ performance data were obtained from the Information Management and Documentation Officer (PPID) of the Ministry of SOEs of the Republic of Indonesia (RI). Finding/ Results: The results show that female directors and political connections positively influence the performance of SOEs. According to the robustness test, directors with economic and/or business education backgrounds positively influence the financial performance, and the higher the education level is, this negatively influences the performance of SOEs. Conclusion: Essentially, this research supports the plan of the Minister of SOEs to increase the proportion of women on the boards of directors. The findings also prove that political connections strengthen the personal qualities of SOE directors, whether they are female or not.

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Are both managerial morality and talent important to firm performance? Evidence from Chinese public firms

Cited by 8 publications

References 52 publications

CEO education in Russia: First systematic evidence and a research agenda

CEO education in Russia: First systematic evidence and a research agenda

“Honey, you’ve got to do what’s right”: common ethical decision-making challenges and strategies of licensed financial advisers

Characteristics of a Good Board of Directors for Indonesian SOEs Performance

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