REIT Chief Executive Officer (CEO) Compensation in the New Era

Feng, Zifeng; Hardin, William G.; Wu, Zedong

doi:10.1007/s11146-022-09892-2

Cited by 2 publications

(1 citation statement)

References 70 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Strategic decision making and firm performance are influenced by CEO charisma, expertise, and reference power (Agle, Nagarajan, Sonnenfeld, & Srinivasan, 2004;Waldman, Javidan, & Varella, 2004). Even though the CEO may not be directly involved in the firm's financial processes, he or she can influence the CFO's decision-making (Feng, Hardin, & Wu, 2022;Gounopoulos & Pham, 2018). Additionally, Lewellyn and Muller-Kahle (2012) noted that there is a favorable relationship between the firm value and CEO tenure, as longer tenure allows CEOs to gain deep industry knowledge and technical expertise which aids in organizational operations.…”

Section: Ceo Expert Power and Firm Performancementioning

confidence: 99%

Do Powerful CEOs Benefit Firm Performance in Pakistan?

Arif,

Ruhana Isa,

Mustapha

2023

AJBA

View full text Add to dashboard Cite

Manuscript type: Research paper Research aims: This study examines the impact of Chief Executive Officer (CEO) power dimensions on firm performance. Design/Methodology/Approach: A panel data of 110 Pakistani firms listed on the Pakistan Stock Exchange for the period of 12 years (2008- 2019) was analysed using the GMM approach. Research findings: The GMM regression results revealed significant relationships. The analysis suggests that CEOs with considerable structural, ownership, prestige, and expert power tend to exhibit superior performance, as these factors are positively correlated with firm performance. Conversely, CEO family power appears to have no discernible impact on firm performance. Importantly, the robustness of our findings underscores the consistent nature of these relationships. Theoretical contribution/Originality: This study makes a valuable contribution to the existing literature by demonstrating the positive influence of CEO power on firm performance, which aligns with the theoretical framework of the Approach/Inhibition theory of power. The originality of this research stems from its examination of individual dimensions of CEO power and their impact on firm performance, as well as the inclusion of the additional dimension of family power. Practitioner/Policy implication: The insight from this study suggests that powerful CEO leadership is beneficial for firm performance and the concentration of power at the CEO position should be seen positively rather than the negative perspective provided by agency theory.

show abstract