2023
DOI: 10.1111/acfi.13070
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A CEO's expertise power and bank diversification

Abstract: We examine the effect of a chief executive officer (CEO)'s expertise power on bank diversification. Using US bank data from 1990 to 2020, we find that a CEO's expertise power is positively associated with bank diversification. Market competition and board composition (size and independence) positively affect this relationship. We also find that CEO delta and vega are the underlying mechanisms through which expertise power leads to greater diversification. We address endogeneity concerns using the two‐stage lea… Show more

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Cited by 2 publications
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“…This study found a strong positive correlation between gender diversity and environmental innovation. Moreover, we observed that this correlation was especially pronounced in firms with lower profitability and in industries that are highly vulnerable to environmental factors (Ali et al, 2023). Businesses with a higher percentage of female employees face fewer environmental lawsuits (Liu, 2018).…”
Section: The Effect Of Gender Diversity On Environmental Performancementioning
confidence: 71%
“…This study found a strong positive correlation between gender diversity and environmental innovation. Moreover, we observed that this correlation was especially pronounced in firms with lower profitability and in industries that are highly vulnerable to environmental factors (Ali et al, 2023). Businesses with a higher percentage of female employees face fewer environmental lawsuits (Liu, 2018).…”
Section: The Effect Of Gender Diversity On Environmental Performancementioning
confidence: 71%