Mind the Gap: The Age Dissimilarity between the Chair and the CEO

Goergen, Marc; Limbach, Peter; Scholz-Daneshgari, Meik

doi:10.2139/ssrn.2652234

Cited by 19 publications

(39 citation statements)

References 63 publications

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“…The distribution of the age difference is similar to the distribution of the age difference between the chairman and CEO of German listed firms studied by Goergen et al. [1] , which has certain theoretical significance for the correlation and regression analysis of age differences. The age dissimilarity reflects two notable characteristics.…”

Section: Data Descriptionsupporting

confidence: 81%

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Data of CEO power, chair-CEO age dissimilarity and pay gap of Chinese listed firms

2020

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This data describes the raw and processed information such as salary, power, and age of the CEO and the chairman between 2009 and 2018 in China's listed firms. The data set contains the data of variables based on the characteristic of the firm, personal, team, and supervision. The dissimilarities and similarities of the characteristics between the chairman and the CEO are the core of this data set. The dissimilarities refer to individual and team differences. Individual differences refer to differences in age, gender, tenure, experience, shareholding, and salary of the chairman and CEO, while team differences refer to differences in team size and the standard deviation of the management board members’ age. The similarities refer to joint tenure and family relations between the chairman and CEO. These variables can be used to estimate the impact of chair-CEO age dissimilarity on the relationship between CEO power and chair-CEO pay gap of the Chinese listed firms through binary probit or multinomial regression.

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Section: Data Descriptionsupporting

confidence: 81%

“…The main independent variable is the age dissimilarity between the chairman and CEO which is measured by three ways proposed by Goergen et al. [1] : Chair-CEO age gap, Chair-CEO age ratio, and Generational gap. The Chair-CEO age gap is the age of the chair minus the age of the CEO.…”

Section: Data Descriptionmentioning

confidence: 99%

Data of CEO power, chair-CEO age dissimilarity and pay gap of Chinese listed firms

2020

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“…Roitto () reported a negative relationship between the average age of board members and CSR disclosure, whereas Katmon et al () reported no association between age diversity and QCSR disclosure. Goergen, Limbach, and Scholz () documented positive association between age diversity and board effectiveness and performance. Hence, on the basis of mixed results, we hypothesized the following:H1 Board age diversity is positively associated with QCSR disclosure.…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Does board diversity affect quality of corporate social responsibility disclosure? Evidence from Pakistan

Khan

Saeed

2019

Corp Soc Responsibility Env

107

119

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The study proposed that the effect of board diversity on quality of corporate social responsibility (QCSR) disclosure in Pakistan should be patterned differently from existing literature of other nations. The study has focused seven different dimensions of board diversity such as age, gender, nationality, ethnicity, educational level, educational background, and tenure across 86 firms listed in Pakistan Stock Exchange from 2010 to 2017. The results of panel regression supported resource-based view theory and indicated that gender, nation, and tenure diversity are resources improving QCSR disclosure. However, educational background has a negative impact on QCSR disclosure. Further analysis across alternative measurement and estimation techniques produces robust results. The results revealed that there is no universal law of CSR supportive board diversity, due to the unique characteristic of various institutional contexts. This study suggests policy makers to focus on gender,nation, tenure and relevant educational background diversity while setting board diversity framework in Pakistan. KEYWORDS board diversity, Pakistan, quality of CSR disclosure, RBV theory

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“…In this section, we explore a possible mechanism through which female boards increase firm value. Board meetings are the primary channel for directors to stay informed of a firm's operations, business conditions, and managerial decisions so that they can effectively participate in corporate governance (Brick & Chidambaran, 2010; Goergen, Limbach, & Scholz, 2015; Masulis et al, 2012). We thus focus on the number of board meetings as these meetings provide an important platform for directors to influence firm‐level decisions and the frequency of meeting signals directors' effort and diligence.…”

Section: Additional Tests and Robustness Checksmentioning

confidence: 99%

Female representation on boards andCEOperformance‐induced turnover: Evidence from Russia

Kim

Kuang

Qin

2020

Corporate Governance

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Research Question/Issue: This study examines the influence of female board representation on CEO turnover and firm value. We focus on Russia, a patriarchal country with vast gender differences, where empathy, patience, and supportiveness are considered fundamental qualities of females. Research Findings/Insights: Using a sample of public firms listed on the MoscowExchange from 2006 to 2015, we find that female representation on boards is associated with lower CEO turnover-performance sensitivity. Further, female boards appear to add firm value, as we find that CEO retention decisions are associated with improved future firm value when the decision is made by a female board. Furthermore, we identify that female representation on boards is associated with greater diligence (i.e., hold more board meetings) after retaining their underperforming CEOs.Theoretical/Academic Implications: Our findings suggest that female boards tend to develop a long-term view of CEO performance and that such boards exercise greater diligence and supportiveness, thereby adding shareholder value. Our results also indicate that patience and collaboration of corporate boards afford opportunities to develop strategic thinking, which is particularly valuable for a firm in times of crisis.Our study contributes to the research on what qualities of a board affect its decision making and effectiveness. Our research also adds to the literature on female board representation. We study Russia, where gender differences are prominent, and female representation occurs by happenstance rather than regulatorily / intentionally. Overall, we are able to attribute our findings to female representation on boards.Practitioner/Policy Implications: Our study contributes to the burgeoning research on corporate governance in Russia. Although the Russian economy has demonstrated unprecedented growth among emerging markets, research on corporate governance in Russia remains scarce. Our study is among the first efforts to understand how female boards perform in a patriarchal country. Our investigation, therefore, offers important insights for policymakers and practitioners. K E Y W O R D S board composition, board task effectiveness, corporate governance, Russia

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Mind the Gap: The Age Dissimilarity between the Chair and the CEO

Cited by 19 publications

References 63 publications

Data of CEO power, chair-CEO age dissimilarity and pay gap of Chinese listed firms

Data of CEO power, chair-CEO age dissimilarity and pay gap of Chinese listed firms

Does board diversity affect quality of corporate social responsibility disclosure? Evidence from Pakistan

Female representation on boards andCEOperformance‐induced turnover: Evidence from Russia

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