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Impact of CEO characteristics on firm performance: evidence from China listed firms

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  • Caiyun Liu
  • Hui Jiang

Abstract

This paper investigates the influence of CEO characteristics on firm performance. Our sample data consists of 10,446 observations from Chinese listed companies taken during the period 2008–2016. After applying a Quantile Regression approach, we find that CEO age has no obvious impact on firm performance, a finding that clearly differs from previous research. CEO tenure only has a highly significant negative impact on high valuation firms (at the 75th and 90th). Furthermore, while CEO political ties are positively related to low valuation firms, the exact opposite effect is evidenced in relation to high-performance firms.

Suggested Citation

  • Caiyun Liu & Hui Jiang, 2020. "Impact of CEO characteristics on firm performance: evidence from China listed firms," Applied Economics Letters, Taylor & Francis Journals, vol. 27(14), pages 1-5, July.
    • Handle: RePEc:taf:apeclt:v:27:y:2020:i:14:p:1-5
    DOI: 10.1080/13504851.2019.1607965
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    Cited by:

    1. Dzung Viet Nguyen & Ngan Hoang-Kim Nguyen & Tien Thuy Dinh, 2023. "CEO attributes and firm performance: Evidence from companies listed on Ho Chi Minh Stock Exchange," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(2), pages 2282838-228, October.
    2. Benedict Valentine Arulanandam & Christo Selvan & Goh Xin Tong, 2023. "Critical Factors Influencing Firms' Risk-Taking Behaviour: CEO Characteristics and the Moderating Role of the Audit Committee," Central European Business Review, Prague University of Economics and Business, vol. 2023(5), pages 1-41.
    3. Qiuqin He & Agustín Carrilero-Castillo & Joaquin Gonzalez-Garcia, 2022. "Do CEO characteristics influence a firm’s investment in brand equity? Evidence from Chinese listed firms," International Entrepreneurship and Management Journal, Springer, vol. 18(1), pages 73-87, March.
    4. Pompei Mititean, 2022. "The Impact Of Corporate Governance Characteristics On Companies’ Financial Performance: Evidence From Romania," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 67(233), pages 113-134, April – J.
    5. Tuan Nguyen‐Anh & Shawn Leu & Anh Nguyen‐Thi‐Phuong & Thanh Ngo‐Dang & Nguyen To‐The, 2023. "Adapting to the new normal: A sustainable livelihood framework for the informal sectors during COVID‐19," Review of Development Economics, Wiley Blackwell, vol. 27(2), pages 1092-1112, May.
    6. Thanh Ngo & Tu DQ Le & Dat T Nguyen & Tin H Ho, 2023. "Determinants Of Bank Performance: Revisiting The Role Of Ceo’S Personality Traits Using Graphology," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 26(2), pages 289-310, May.
    7. Tutun Mukherjee & Som Sankar Sen, 2022. "Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 8(1), pages 1-50, December.
    8. Mariana Bunea & Liliana Ionescu Feleaga & Bogdan Stefan Ionescu, 2023. "The CEO characteristics and Romanian banks performance," E&M Economics and Management, Technical University of Liberec, Faculty of Economics, vol. 26(4), pages 99-118, December.
    9. Georgiana Danilov, 2024. "The impact of corporate governance on firm performance: panel data evidence from S&P 500 Information Technology," Future Business Journal, Springer, vol. 10(1), pages 1-25, December.
    10. Yi Luo & Rongda Cui & Jian Ma & Yukun Jin & Mengheng Li & Shu Lin, 2024. "Impact of CEO’s scientific research background on the enterprise digital level," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-16, December.

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