The Impact of CEO Status Diffusion on the Economic Outcomes of Other Senior Managers

Published Online:https://doi.org/10.1287/orsc.1080.0354

References

  • Alford A. W. The effect of the set of comparable firms on the accuracy of the price-earnings valuation method. J. Accounting Res. (1992) 30:94–108CrossrefGoogle Scholar
  • Baum J. A. C., Oliver C. Institutional linkages and organizational mortality. Admin. Sci. Quart. (1991) 36:187–218CrossrefGoogle Scholar
  • Bebchuk L., Fried J.Pay Without Performance: The Unfulfilled Promise of Executive Compensation (2004) (Harvard University Press, Cambridge, MA) Google Scholar
  • Benjamin B. A., Podolny J. M. Status, quality, and social order in the California wine industry. Admin. Sci. Quart. (1999) 3:563–589CrossrefGoogle Scholar
  • Berle A. A., Means G. C.The Modern Corporation and Private Property (1932) (Brace & World, Harcourt, New York) Google Scholar
  • Bloom M., Michel J. The performance effects of pay dispersion on individual and organizations. Acad. Management J. (2002) 45:33–42CrossrefGoogle Scholar
  • Boeker W. Power and managerial dismissal: Scapegoating at the top. Admin. Sci. Quart. (1992) 37:400–421CrossrefGoogle Scholar
  • Brandenburger A., Stuart J. Value-based business strategy. J. Econom. Management Strategy (1996) 5:5–24CrossrefGoogle Scholar
  • Cannella A. A., Lubatkin M. Succession as a sociopolitical process: Internal impediments to outsider selection. Acad. Management J. (1993) 36:763–793CrossrefGoogle Scholar
  • Cannella A. A., Shen W. So close and yet so far: Promotion versus exit for CEO heirs apparent. Acad. Management J. (2001) 44:252–270CrossrefGoogle Scholar
  • Carpenter M. A., Sanders W. G. Top management team compensation: The missing link between CEO pay and firm performance. Strategic Management J. (2002) 23:367–375CrossrefGoogle Scholar
  • Carpenter M. A., Sanders W. G. The effects of top management team pay and firm internationalization on MNC performance. J. Management (2004) 30:509–528CrossrefGoogle Scholar
  • Carpenter M. A., Geletkanycz M. A., Sanders W. G. Upper echelons research revisited: Antecedents, elements, and consequences of top management team composition. J. Management (2004) 30:749–778CrossrefGoogle Scholar
  • Clarke R. N. SICs as delineators of economic markets. J. Bus. (1989) 62:17–31CrossrefGoogle Scholar
  • Datta D. K., Rajagopalan N. Industry structure and CEO characteristics: An empirical study of succession events. Strategic Management J. (1998) 19:833–852CrossrefGoogle Scholar
  • Deephouse D. L. Media reputation as a strategic resource: An integration of mass communication and resource-based theories. J. Management (2000) 26:1091–1112CrossrefGoogle Scholar
  • DeGeorge F., Jayendu P., Zeckhauser R. Earnings management to exceed thresholds. J. Bus. (1999) 71:1–33CrossrefGoogle Scholar
  • Devers C. E., Cannella A. A., Reilly G. P., Yoder M. Executive compensation: A multidisciplinary review of recent developments. J. Management (2007) 33:1016–1072CrossrefGoogle Scholar
  • Dye R. Inside trading and incentives. J. Bus. (1984) 57:295–313CrossrefGoogle Scholar
  • Eisenhardt K. M. Agency theory: An assessment and review. Acad. Management Rev. (1989) 14:57–74CrossrefGoogle Scholar
  • English J. F.The Economy of Prestige: Prizes, Awards, and the Circulation of Cultural Value (2005) (Harvard University Press, Cambridge, MA) CrossrefGoogle Scholar
  • Eriksson T. Compensation and tournament theory: Empirical tests on Danish data. J. Labor Econom. (1999) 17:262–280CrossrefGoogle Scholar
  • Financial World CEO of the year. (1975) March 26):16–32Google Scholar
  • Finkelstein S. Understanding pay dispersion within top management teams: A social comparison perspective. (1996) . Working paper, Amos Tuck School of Business, Dartmouth College, Hanover, NHGoogle Scholar
  • Finkelstein S., Hambrick D. C.Strategic Leadership: Top Executives and Their Effects on Organizations (1996) (West Publishing Company, New York) Google Scholar
  • Flynn F. J., Staw B. M. Lend me your wallets: The effect of charismatic leadership on external support for an organization. Strategic Management J. (2004) 25:309–330CrossrefGoogle Scholar
  • Fombrun C. J.Reputation: Realizing Value from the Corporate Image (1996) (Harvard Business School Press, Boston) Google Scholar
  • Frank R. H., Cook P. J.The Winner-Take-All Society (1995) (Penguin Books, New York) Google Scholar
  • Gerhart B., Rynes S. L.Compensation: Theory, Evidence, and Strategic Implications (2003) (Sage, Thousand Oaks, CA) Google Scholar
  • Gibbons R., Murphy K. Relative performance evaluation for chief executive officers. Indust. Labor Relations Rev. (1990) 43:30s–51sCrossrefGoogle Scholar
  • Greene W. H.Econometric Analysis (1993) 2nd ed.(MacMillan, New York) Google Scholar
  • Groysberg B., McLean A. N., Nohria N. Are leaders portable? Harvard Bus. Rev. (2006) May):92–100Google Scholar
  • Guest R. J. Managerial succession in complex organizations. Amer. J. Sociol. (1962) 68:47–56CrossrefGoogle Scholar
  • Hambrick D., Mason P. Upper echelons: The organization as a reflection of its top managers. Acad. Management Rev. (1984) 9:193–206CrossrefGoogle Scholar
  • Hayward M. L. A., Hambrick D. C. Explaining the premiums paid for large acquisitions: Evidence of CEO hubris. Admin. Sci. Quart. (1997) 42:103–127CrossrefGoogle Scholar
  • Hayward M. L. A., Rindova V., Pollock T. Believing one's own press: The causes and consequences of CEO celebrity. Strategic Management J. (2004) 25:637–653CrossrefGoogle Scholar
  • Holmstrom B. Moral hazard and observability. Bell J. Econom. (1979) 10:74–91CrossrefGoogle Scholar
  • Holmstrom B. Moral hazard in teams. Bell J. Econom. (1982) 13:324–340CrossrefGoogle Scholar
  • Hsu D. What do entrepreneurs pay for venture capital affiliation? J. Finance (2004) 59:1805–1844CrossrefGoogle Scholar
  • Jensen M. C., Meckling W. H. Theory of the firm: Managerial behavior, agency costs and ownership structure. J. Financial Econom. (1976) 3:303–360CrossrefGoogle Scholar
  • Johnson J. L., Ellstrand A. E., Daily C. M., Dalton D. R. Board reputation and stockholder wealth: The influence of the financial press. Strategic Management J. (2005) 26:461–471CrossrefGoogle Scholar
  • Khurana R.Searching for a Corporate Savior: The Irrational Quest for Charismatic CEOs (2002) (Princeton University Press, Princeton, NJ) CrossrefGoogle Scholar
  • Lazear E. Pay equality and industrial politics. J. Political Econom. (1989) 97:561–580CrossrefGoogle Scholar
  • Lazear E., Rosen S. Rank order tournaments as optimum labor contracts. J. Political Econom. (1981) 89:841–864CrossrefGoogle Scholar
  • Lee F., Tiedens L. Z. Who's being served? “Self-serving” attributions in social hierarchies. Organ. Behav. Human Decision Processes (2001) 84:254–287CrossrefGoogle Scholar
  • Liao T. F.Interpreting Probability Models: Logit, Probit, and Other Generalized Linear Models (1994) (Sage, Thousand Oaks, CA) CrossrefGoogle Scholar
  • Main B., O'Reilly C., Wade J. Top executive pay: Tournament or teamwork? J. Labor Econom. (1993) 11:606–628CrossrefGoogle Scholar
  • Malmendier U., Tate G. A.Superstar CEOs (2005a) . Paper presented at 7th Annual Texas Finance Festival. http://ssrn.com/abstract=709861Google Scholar
  • Malmendier U., Tate G. A. CEO overconfidence and corporate investment. J. Finance (2005b) 60:2661–2700CrossrefGoogle Scholar
  • Merton R. K. The Matthew effect in science. Science (1968) 159:56–63CrossrefGoogle Scholar
  • Milbourn T. T. CEO reputation and stock-based compensation. J. Financial Econom. (2003) 68:233–262CrossrefGoogle Scholar
  • Nilakant V., Rao H. Agency theory and uncertainty in organizations: An evaluation. Organ. Stud. (1994) 15:649–672CrossrefGoogle Scholar
  • Peterson R. S., Smith D. B., Martorana P. V., Owens R. D. The impact of chief executive officer personality on top management team dynamics: One mechanism by which leadership affects organizational performance. J. Appl. Psych. (2003) 88:795–808CrossrefGoogle Scholar
  • Pfeffer J.Power in Organizations (1981) (Pitman, Marshfield, MA) Google Scholar
  • Pfeffer J., Langton N. The effect of wage dispersion on satisfaction, productivity, and working collaboratively: Evidence from college and university faculty. Admin. Sci. Quart. (1993) 38:382–407CrossrefGoogle Scholar
  • Podolny J. M.Status Signals (2005) (Princeton University Press, Princeton, NJ) Google Scholar
  • Pollock T. G., Rindova V. P. Media legitimation effects in the market for initial public offerings. Acad. Management J. (2003) 46:631–642CrossrefGoogle Scholar
  • Porac J. F., Wade J. B., Pollock T. G. Industry categorizations and the politics of the comparable firm in CEO compensation. Admin. Sci. Quart. (1999) 44:112–144CrossrefGoogle Scholar
  • Rosen S. Prizes and incentives in elimination tournaments. Amer. Econom. Rev. (1986) 76:701–715Google Scholar
  • Sanders W. G., Boivie S. Sorting things out: Valuation of new firms in uncertain markets. Strategic Management J. (2004) 25:167–186CrossrefGoogle Scholar
  • Siegel P., Hambrick D. C. Pay disparities within top management groups: Evidence of harmful effects on performance of high-technology firms. Organ. Sci. (2005) 16:259–274LinkGoogle Scholar
  • Simon H. A.Models of Man (1957) (Wiley, New York) Google Scholar
  • Stuart T. E., Hoang H., Hybels R. C. Interorganizational endorsement and the performance of entrepreneurial ventures. Admin. Sci. Quart. (1999) 44:315–349CrossrefGoogle Scholar
  • Vancil R. F.Passing the Baton (1987) (Harvard Business School Press, Boston) Google Scholar
  • Wade J. B., O'Reilly C. A., Pollock T. G. Overpaid CEOs and underpaid managers: Equity and executive compensation. Organ. Sci. (2006a) 17:527–544LinkGoogle Scholar
  • Wade J. B., Porac J. F., Pollock T. G., Graffin S. D. The burden of celebrity: The impact of CEO certification contests on CEO pay and performance. Acad. Management J. (2006b) 49:643–660CrossrefGoogle Scholar
  • Washington M., Zajac E. J. Status evolution and competition: Theory and evidence. Acad. Management J. (2005) 48:281–296CrossrefGoogle Scholar
  • Weinsenfeld B. M., Wurthmann K., Hambrick D. C. The stigmatization and devaluation of elites associated with corporate failures: A process model. Acad. Management Rev. (2008) 33:231–251CrossrefGoogle Scholar
  • Zajac E. J., Westphal J. D. Who shall succeed? How CEO/board preferences and power affect the choice of new CEOs. Acad. Management J. (1996) 39:64–90CrossrefGoogle Scholar
  • Zuckerman E. W. The categorical imperative: Securities analysts and the illegitimacy discount. Amer. J. Sociol. (1999) 104:1398–1438CrossrefGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.