Preprint
CEO Implicit Motives: Their Impact on Firm Performance
Abstract
Using 6160 annual CEO letters to shareholders for 585 S&P 500 companies from the period 1992 to 2010, this paper examines how CEO implicit motives (need for achievement, need for power and need for affiliation) impact a firm’s financial performance. The results show that after controlling for firm and year fixed effects as well as personal demographic characteristics, financial performance increases with a CEO’s need for power and decreases …
Authors
Veenstra KJ
Publication date
January 1, 2013
DOI
10.2139/ssrn.2258530
Preprint server
SSRN Electronic Journal