Journal article
CEO Implicit Motives: Their Impact on Firm Performance
Abstract
ABSTRACT Using 4,838 annual CEO letters to shareholders for 397 S&P 500 companies from the period 1993 to 2010, this paper examines how CEO implicit motives impact a firm's financial performance. The results show that after controlling for firm and year fixed effects, financial performance increases with a CEO's need for power and decreases with a CEO's need for achievement and need for affiliation. Implicit motives play a significant role in …
Authors
Veenstra K
Journal
Behavioral Research in Accounting, Vol. 32, No. 2, pp. 57–89
Publisher
American Accounting Association
Publication Date
September 1, 2020
DOI
10.2308/bria-19-024
ISSN
1050-4753