Powerful CEOs and Their Impact on Corporate Performance

B. Adams, Renée; Almeida, Heitor; Ferreira, Daniel

doi:10.1093/rfs/hhi030

Public

Powerful CEOs and Their Impact on Corporate Performance

Published in Review of Financial Studies • Jan 1, 2005

Authors:

Renée B. Adams

Heitor Almeida

Daniel Ferreira

Abstract

Executives can only impact firm outcomes if they have influence over crucial decisions. On the basis of this idea, we develop and test the hypothesis that firms whose CEOs have more decision-making power should experience more variability in performance. Focusing primarily on the power the CEO has o...

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