CEO mobility and corporate policy risk

Korkeamäki, Timo; Colak, Gonul

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dc.contributor	Aalto-yliopisto	fi
dc.contributor	Aalto University	en
dc.contributor.author	Korkeamäki, Timo
dc.contributor.author	Colak, Gonul
dc.date.accessioned	2021-08-25T06:52:27Z
dc.date.available	2021-08-25T06:52:27Z
dc.date.issued	2021-08
dc.identifier.citation	Korkeamäki , T & Colak , G 2021 , ' CEO mobility and corporate policy risk ' , JOURNAL OF CORPORATE FINANCE , vol. 69 , 102037 . https://doi.org/10.1016/j.jcorpfin.2021.102037	en
dc.identifier.issn	0929-1199
dc.identifier.issn	1872-6313
dc.identifier.other	PURE UUID: 7b3101fe-965c-4173-b894-03096700d126
dc.identifier.other	PURE ITEMURL: https://research.aalto.fi/en/publications/7b3101fe-965c-4173-b894-03096700d126
dc.identifier.other	PURE FILEURL: https://research.aalto.fi/files/66584424/1_s2.0_S0929119921001590_main.pdf
dc.identifier.uri	https://aaltodoc.aalto.fi/handle/123456789/109145
dc.description.abstract	Career concerns can limit a manager's willingness to take risks, which can lead to excessive policy conservatism. An increase in a CEO's ability and willingness to change jobs (CEO mobility) can diversify her human capital and reduce her conservatism. We derive several CEO mobility measures and relate them to a policy riskiness index that captures the overall risk embedded in a firm's corporate policies. We find a strong positive relation between CEO mobility and the riskiness of corporate policies. We also link external regulatory shocks that constrain labor mobility to significant drops in corporate risk-taking.	en
dc.format.extent	28
dc.format.mimetype	application/pdf
dc.language.iso	en	en
dc.publisher	Elsevier Science B.V.
dc.relation.ispartofseries	JOURNAL OF CORPORATE FINANCE	en
dc.relation.ispartofseries	Volume 69	en
dc.rights	openAccess	en
dc.title	CEO mobility and corporate policy risk	en
dc.type	A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä	fi
dc.description.version	Peer reviewed	en
dc.contributor.department	School Services, BIZ
dc.contributor.department	Hanken School of Economics
dc.subject.keyword	CEO mobility
dc.subject.keyword	Corporate policy risk
dc.subject.keyword	Shareholder value
dc.identifier.urn	URN:NBN:fi:aalto-202108258382
dc.identifier.doi	10.1016/j.jcorpfin.2021.102037
dc.type.version	publishedVersion