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- W2493448918 abstract "This paper investigates the effect of superstar CEOs on their competitors. Exploiting shocks to CEO status due to awards provided by major media outlets, we document a significant outperformance of competitors of superstar CEOs to a control sample of competitors of observationally equivalent CEOs who do not win an award. We observe an increase in risk-taking of superstar competitors subsequent to the award and identify an increase in innovation activity as a channel of the increased risk-taking. Our empirical identification strategy uses matching techniques to ensure that our treatment and control samples behave very similarly prior to the CEO award, alleviating endogeneity concerns and supporting a causal interpretation of our results." @default.
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- W2493448918 date "2013-08-29" @default.
- W2493448918 modified "2023-09-26" @default.
- W2493448918 title "Shining Brighter Than The Stars? Corporate Evidence on Competing with Superstars" @default.
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