Managerial ability, CEO age and the moderating effect of firm characteristics

IF 2.2 3区管理学 Q2 BUSINESS, FINANCE

Journal of Business Finance & Accounting Pub Date : 2023-01-23 DOI:10.1111/jbfa.12689

Rosemond Desir, Joseph Rakestraw, Scott Seavey, James Wainberg, George Young

引用次数: 0

Abstract

Recent surveys indicate that America's chief executive officers (CEOs) are getting older. While aging is often associated with greater experience, improved skill sets and higher job performance, prior research warns that aging can also lead to a significant decrease in cognitive function, energy, ambition and, consequently, the ability of CEOs to manage their firms. We examine this issue and find that older CEOs display significantly lower managerial ability as compared to younger CEOs. Exploring differences in firm factors, we further find that older CEOs exhibit significantly lower managerial ability when managing high-technology firms and significantly higher managerial ability when managing more mature, highly regulated firms. Collectively, our study provides new evidence that while managerial ability decreases with age, firm characteristics significantly moderate this relationship.

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管理能力、首席执行官年龄和公司特征的调节作用

最近的调查显示，美国的首席执行官（CEO）年龄越来越大。虽然年龄的增长往往与经验的丰富、技能的提高和工作绩效的提升有关，但先前的研究警告说，年龄的增长也会导致认知功能、精力和雄心的显著下降，进而影响首席执行官管理公司的能力。我们对这一问题进行了研究，发现老年首席执行官的管理能力明显低于年轻首席执行官。在探究企业因素的差异时，我们进一步发现，年长的首席执行官在管理高科技企业时表现出的管理能力明显较低，而在管理更成熟、监管更严格的企业时表现出的管理能力则明显较高。总之，我们的研究提供了新的证据，表明虽然管理能力会随着年龄的增长而下降，但公司特征会显著缓和这种关系。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Business Finance & Accounting BUSINESS, FINANCE-

CiteScore

4.40

自引率

17.20%

发文量

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