The Relationship Between CEO Media Appearances and Compensation
Published Online:22 May 2017https://doi.org/10.1287/orsc.2017.1128
References
- (1970) The market for “lemons”: Quality uncertainty and the market mechanism. Quart. J. Econom. 84(3):488–500.Crossref, Google Scholar
- (2003) The boundaries and limitations of agency theory and stewardship theory in the venture capitalist/entrepreneur relationship. Entrepreneurship Theory Practice 28(2):145–162.Crossref, Google Scholar
- (1993) Information asymmetry, adverse selection and joint-ventures: Theory and evidence. J. Econom. Behav. Organ. 20(1):99–117.Crossref, Google Scholar
- (2012) Watchdog or lapdog? A behavioral view of the media as a corporate governance mechanism. Acad. Management J. 55(1):131–150.Crossref, Google Scholar
- (2013) Burr under the saddle: How media coverage influences strategic change. Organ. Sci. 24(3):910–925.Link, Google Scholar
- (1999) What happens to CEOs after they retire? New evidence on career concerns, horizon problems, and CEO incentive. J. Financial Econom. 52(3):341–377.Crossref, Google Scholar
- (2012) Investor relations, firm visibility, and investor following. Accounting Rev. 87(3):867–897.Crossref, Google Scholar
- (2002) Market efficiency in real time. J. Financial Econom. 65(3):415–437.Crossref, Google Scholar
- (2007) It’s all about me: Narcissistic chief executive officers and their effects on company strategy and performance. Admin. Sci. Quart. 52(3):351–386.Crossref, Google Scholar
- (2001) Agglomeration effects and performance: A test of the Texas lodging industry. Strategic Management J. 22(10):969–988.Crossref, Google Scholar
- (1999) When competitive advantage doesn’t lead to performance: The resource-based view and stakeholder bargaining power. Organ. Sci. 10(2):119–133.Link, Google Scholar
- (2011) Signaling theory: A review and assessment. J. Management 37(1):39–67.Crossref, Google Scholar
- (1999) The use of equity grants to manage optimal equity incentive levels. J. Accounting Econom. 28(2):151–184.Crossref, Google Scholar
- (2008) The power of the pen and executive compensation. J. Financial Econom. 88(1):1–25.Crossref, Google Scholar
- (1963) A Behavioral Theory of the Firm (Prentice-Hall, Elglewood Cliffs, NJ).Google Scholar
- (2010) Search intermediaries, internal labor markets, and CEO pay. Working paper, Hong Kong University of Science and Technology (HKUST), Clear Water Bay, Hong Kong.Crossref, Google Scholar
- (1991) Executive incentives and the horizon problem: An empirical investigation. J. Accounting Econom. 14(1):51–89.Crossref, Google Scholar
- (2005) Organizational roles and transition to entrepreneurship. Acad. Management J. 48(3):433–449.Crossref, Google Scholar
- (2008) The corporate governance role of the media. J. Finance 63(3):1093–1135.Crossref, Google Scholar
- (2009) A multiplicative model of optimal CEO incentives in market equilibrium. Rev. Financial Stud. 22(12):4881–4917.Crossref, Google Scholar
- (1989) Agency theory: An assessment and review. Acad. Management Rev. 14(1):57–74.Crossref, Google Scholar
- (2006) Encouraging best practice in quantitative management research: An incomplete list of opportunities. J. Management Stud. 43(8):1802–1820.Google Scholar
- (2010) CEO turnover and retention light: Retaining former CEOs on the board. J. Accounting Res. 48(5):1015–1047.Crossref, Google Scholar
- (1980) Agency problems and the theory of the firm. J. Political Econom. 88(2):288–307.Crossref, Google Scholar
- (2009) Media coverage and the cross-section of stock returns. J. Finance 64(5):2023–2052.Crossref, Google Scholar
- (2003) Raids, rewards, and reputations in the market for managerial talent. Rev. Financial Stud. 16(4):1315–1357.Crossref, Google Scholar
- (1988) A model of CEO dismissal. Acad. Management Rev. 13(2):255–270.Crossref, Google Scholar
- (2005) Counteroffers and efficiency in labor markets with asymmetric information. J. Labor Econom. 23(2):373–393.Crossref, Google Scholar
- (2011) The secret sauce behind CNBC. How does CNBC stay on top? Forbes (August 31), http://www.forbes.com/sites/ilanagreene/2011/08/31/the-secret-sauce-behind-cnbc-how-does-cnbc-stay-on-top/print/.Google Scholar
- (2014) Beauty is wealth: CEO appearance and shareholder value. Working paper, University of Wisconsin—Milwaukee, Milwaukee.Google Scholar
- (2003) Correcting for endogeneity in strategic management research. Strategic Organ. 1(1):51–78.Crossref, Google Scholar
- (2004) Media coverage of CEOs: Who? What? Where? When? Why? Working paper, Sanford School of Public Policy, Duke University, Durham, NC.Google Scholar
- (2004) Believing one’s own press: The causes and consequences of CEO celebrity. Strategic Management J. 25(7):637–653.Crossref, Google Scholar
- (1991) Toward a theory of competitive market signaling: A research agenda. Strategic Management J. 12(6):403–418.Crossref, Google Scholar
- (2000) CEO founder status and firm financial performance. Strategic Management J. 21(12):1215–1224.Crossref, Google Scholar
- (1979) Toward a theory of the press. Brunner K, ed. Economics and Social Institutions (Martinus Nijhoff Publishing Company, Dordrecht, Netherlands), 267–287.Crossref, Google Scholar
- (2015) CEO Turnover and relative performance evaluation. J. Finance 70(5):2155–2184.Crossref, Google Scholar
- (2015) CEO preferences and acquisitions. J. Finance 70(6):2813–2852.Crossref, Google Scholar
- (1990) Outside directorships and corporate performance. J. Financial Econom. 27(2):389–410.Crossref, Google Scholar
- (2001) Finding the right CEO: Why boards often make poor choices. MIT Sloan Management Rev. 43(1):91–95.Google Scholar
- (2014) Seeing stars: Matthew effects and status bias in Major League Baseball umpiring. Management Sci. 60(11):2619–2644.Link, Google Scholar
- (2011) CEO interviews on CNBC. Working paper, Sungkyunkwan University Business School, Seoul, Korea.Crossref, Google Scholar
- (2012) Public opinion and executive compensation. Management Sci. 58(7):1249–1272.Link, Google Scholar
- (2001) What’s in a name.com? The effects of “.com” name changes on stock prices and trading activity. Strategic Management J. 22(8):793–804.Crossref, Google Scholar
- (2002) Markets with asymmetric information: The contributions of George Akerlof, Michael Spence and Joseph Stiglitz. Scandinavian J. Econom. 104(2):195–211.Crossref, Google Scholar
- (2011) When is a liability not a liability? Textual analysis, dictionaries, and 10-Ks. J. Finance 66(1):35–65.Crossref, Google Scholar
- (2009) Superstar CEOs. Quart. J. Econom. 124(4):1593–1638.Crossref, Google Scholar
- (1958) Organizations (Wiley, Oxford, UK).Google Scholar
- (1987) A simple model of capital market equilibrium with incomplete information. J. Finance 42(3):483–510.Crossref, Google Scholar
- (2004) CEO Interviews on CNBC. Working paper, University of Kansas, Lawrence.Google Scholar
- (2003) CEO reputation and stock-based compensation. J. Financial Econom. 68(2):233–262.Crossref, Google Scholar
- (1987) Job discrimination, market forces, and the invisibility hypothesis. Quart. J. Econom. 102(3):453–476.Crossref, Google Scholar
- (2006) The press as a watchdog for accounting fraud. J. Accounting Res. 44(5):1001–1033.Crossref, Google Scholar
- (2011) Is more news good news? Media coverage of CEOs, firm value, and rent extraction. Working paper, Judge Business School, University of Cambridge, Cambridge, UK.Crossref, Google Scholar
- (1986) Organizational commitment and psychological attachment: The effects of compliance, identification, and internalization on prosocial behavior. J. Appl. Psych. 71(3):492–499.Crossref, Google Scholar
- (1997) CEO turnover and outside succession a cross-sectional analysis. J. Financial Econom. 46(2):165–197.Crossref, Google Scholar
- (2001) Linguistic Inquiry and Word Count (LIWC): LIWC2001 (Lawrence Erlbaum Associates, Ltd., Mahwah, NJ).Google Scholar
- (2001) Toward a theory of psychological ownership in organizations. Acad. Management Rev. 26(2):298–310.Crossref, Google Scholar
- (2002) The role of power and politics in the repricing of executive options. Acad. Management J. 45(6):1172–1182.Crossref, Google Scholar
- (2006) CEOs’ outside employment opportunities and the lack of relative performance evaluation in compensation contracts. J. Finance 61(4):1813–1844.Crossref, Google Scholar
- (1995) Board of directors and substitution effects of alternative governance mechanisms. Strategic Management J. 16(2):85–99.Crossref, Google Scholar
- (1992) Equilibrium in competitive insurance markets: An essay on the economics of imperfect information. Dionne G, Harrington S, eds. Foundations of Insurance Economics, Vol. 14 (Springer, Netherlands), 355–375.Google Scholar
- (1998) Accounting for endogeneity when assessing strategy performance: Does entry mode choice affect FDI survival? Management Sci. 44(4):571–585.Link, Google Scholar
- (1945) Administrative Behavior (Free Press, New York).Google Scholar
- (2004) The strategic signaling of capabilities by service firms in different information asymmetry environments. Strategic Organ. 2(3):271–291.Crossref, Google Scholar
- (1973) Job market signaling. Quart. J. Econom. 87(3):355–374.Crossref, Google Scholar
- (1997) Instrumental variables regression with weak instruments. Econometrica 65(3):557–586.Crossref, Google Scholar
- (2016) Whom are you promoting? Positive voluntary public disclosures and executive turnover. Strategic Management J. 37(7):1413–1430.Crossref, Google Scholar
- (2014) Unmixed signals: How reputation and status affect alliance formation. Strategic Management J. 35(4):512–531.Crossref, Google Scholar
- (2005) Testing for weak instruments in linear IV regression. Andrews DWK, ed. Identification and Inference for Econometric Models (Cambridge University Press, New York), 80–108.Crossref, Google Scholar
- (2007) Giving content to investor sentiment: The role of media in the stock market. J. Finance 62(3):1139–1168.Crossref, Google Scholar
- (2011) All the news that’s fit to reprint: Do investors react to stale information? Rev. Financial Stud. 24(5):1481–1512.Crossref, Google Scholar
- (2016) A Primer on inverse probability of treatment weighting and marginal structural models. Emerging Adulthood 4(1):40–59.Crossref, Google Scholar
- (2014) On regression adjustment for the propensity score. Statist. Medicine 33(23):4053–4072.Crossref, Google Scholar
- (1988) Stock prices and top management changes. J. Financial Econom. 20(1988):461–492.Crossref, Google Scholar
- (2006) Stewards, agents, and the founder discount: Executive compensation in new ventures. Acad. Management J. 49(5):960–976.Crossref, Google Scholar
- (2011) CEO dismissal: The role of investment analysts. Strategic Management J. 32(11):1161–1182.Crossref, Google Scholar
- (2010) Econometric Analysis of Cross Section and Panel Data (MIT Press, Cambridge, MA).Google Scholar
- (2009) Stock market reaction to CEO certification: The signaling role of CEO background. Strategic Management J. 30(7):693–710.Crossref, Google Scholar

