{"title":"发明家是更好的ceo吗?来自中国的证据","authors":"Qifeng Zhao, Qianfeng Luo, Long Wang, Wenyin Chen","doi":"10.58567/rea02010001","DOIUrl":null,"url":null,"abstract":"This study investigates the impact of inventor CEOs on firm performance using a manually collected database of firms' inventors. Our findings reveal that, on average, firms with inventor CEOs experience a one- and two-percentage-point increase in ROA and ROE, respectively, compared to firms with noninventor CEOs. To address potential endogeneity issues, we employ turnover analysis, an instrumental variable approach, and propensity score matching. The estimation results suggest that inventor CEOs significantly enhance firm performance by fostering innovation and total factor productivity. This research contributes novel evidence on the relationship between inventor CEOs and firm performance.","PeriodicalId":389310,"journal":{"name":"Review of Economic Assessment","volume":"192 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2023-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Are Inventors Better CEOs? Evidence from China\",\"authors\":\"Qifeng Zhao, Qianfeng Luo, Long Wang, Wenyin Chen\",\"doi\":\"10.58567/rea02010001\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study investigates the impact of inventor CEOs on firm performance using a manually collected database of firms' inventors. Our findings reveal that, on average, firms with inventor CEOs experience a one- and two-percentage-point increase in ROA and ROE, respectively, compared to firms with noninventor CEOs. To address potential endogeneity issues, we employ turnover analysis, an instrumental variable approach, and propensity score matching. The estimation results suggest that inventor CEOs significantly enhance firm performance by fostering innovation and total factor productivity. This research contributes novel evidence on the relationship between inventor CEOs and firm performance.\",\"PeriodicalId\":389310,\"journal\":{\"name\":\"Review of Economic Assessment\",\"volume\":\"192 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2023-04-23\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Review of Economic Assessment\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.58567/rea02010001\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Review of Economic Assessment","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.58567/rea02010001","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
This study investigates the impact of inventor CEOs on firm performance using a manually collected database of firms' inventors. Our findings reveal that, on average, firms with inventor CEOs experience a one- and two-percentage-point increase in ROA and ROE, respectively, compared to firms with noninventor CEOs. To address potential endogeneity issues, we employ turnover analysis, an instrumental variable approach, and propensity score matching. The estimation results suggest that inventor CEOs significantly enhance firm performance by fostering innovation and total factor productivity. This research contributes novel evidence on the relationship between inventor CEOs and firm performance.
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