Are Founder CEOs Effective Innovators?

Are Founder CEOs Effective Innovators?

This paper investigates the effectiveness of founder CEOs on firm innovation. We examine our research question using the number of patent citations as a proxy for firm innovation and a novel dataset of founder CEOs in S&P 1,500 firms over a 15‐year period from 1994 to 2008. Our main results show...

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Veröffentlicht in:Asia-Pacific journal of financial studies 2018, 47(3), , pp.426-448
Hauptverfasser: Kim, Jonghwan (Simon), Koo, KwangJoo (KJ)
Format: Artikel
Sprache:eng
Schlagworte:
Chief executive officers
Effectiveness
Founder CEOs
Innovation
Innovations
Professional CEOs
경영학
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Zusammenfassung:This paper investigates the effectiveness of founder CEOs on firm innovation. We examine our research question using the number of patent citations as a proxy for firm innovation and a novel dataset of founder CEOs in S&P 1,500 firms over a 15‐year period from 1994 to 2008. Our main results show that a founder CEO is associated with an increase in citations, suggesting that founder CEOs are more effective in stimulating innovation compared to professional CEOs. Overall, these findings support the argument that a founder CEO plays an important role in facilitating firm innovation through more risk‐taking.
ISSN:2041-9945
2041-6156
DOI:10.1111/ajfs.12217