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CEO mobility and corporate policy risk

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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

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