Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India

Abstract This article investigates the impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth in India. Using static panel data methodology for a sample of NSE listed leading 138 non-financial companies over the time-frame 2011 to 2018, we find that...

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Main Authors: Tutun Mukherjee, Som Sankar Sen
Format: Article
Language:English
Published: SpringerOpen 2022-04-01
Series:Financial Innovation
Subjects:
Online Access:https://doi.org/10.1186/s40854-022-00344-7
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author Tutun Mukherjee
Som Sankar Sen
author_facet Tutun Mukherjee
Som Sankar Sen
author_sort Tutun Mukherjee
collection DOAJ
description Abstract This article investigates the impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth in India. Using static panel data methodology for a sample of NSE listed leading 138 non-financial companies over the time-frame 2011 to 2018, we find that CEO remuneration and tenure maintains significant positive associations with corporate reputation, while duality and CEO busyness are found to be associated with corporate reputation negatively. The results also show that female CEOs and CEO remuneration are associated with corporate financial performance positively, whereas CEO busyness, as expected, holds a significant negative relationship with corporate financial performance. Moreover, the results demonstrate that CEO age is associated with corporate sustainable growth negatively, while tenure appears to have a significant and positive association with corporate sustainable growth. The results are robust to various tests and suggest that in the Indian context, demographic and job-specific attributes of CEOs exert significant influence on corporate reputation, financial performance, and corporate sustainable growth. The empirical findings would provide a basis for the shareholders and companies to identify areas of consideration when appointing CEOs and determining their roles and responsibilities.
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spelling doaj.art-9a1e67a74f5d485f836fa24f92577a172022-12-22T02:07:19ZengSpringerOpenFinancial Innovation2199-47302022-04-018115010.1186/s40854-022-00344-7Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from IndiaTutun Mukherjee0Som Sankar Sen1Xavier Law School, St. Xavier’s University Action Area III, BDepartment of Commerce, Burdwan University GolapbagAbstract This article investigates the impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth in India. Using static panel data methodology for a sample of NSE listed leading 138 non-financial companies over the time-frame 2011 to 2018, we find that CEO remuneration and tenure maintains significant positive associations with corporate reputation, while duality and CEO busyness are found to be associated with corporate reputation negatively. The results also show that female CEOs and CEO remuneration are associated with corporate financial performance positively, whereas CEO busyness, as expected, holds a significant negative relationship with corporate financial performance. Moreover, the results demonstrate that CEO age is associated with corporate sustainable growth negatively, while tenure appears to have a significant and positive association with corporate sustainable growth. The results are robust to various tests and suggest that in the Indian context, demographic and job-specific attributes of CEOs exert significant influence on corporate reputation, financial performance, and corporate sustainable growth. The empirical findings would provide a basis for the shareholders and companies to identify areas of consideration when appointing CEOs and determining their roles and responsibilities.https://doi.org/10.1186/s40854-022-00344-7CEO attributesCorporate reputationFinancial performanceCorporate sustainable growthPanel data methodology
spellingShingle Tutun Mukherjee
Som Sankar Sen
Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India
Financial Innovation
CEO attributes
Corporate reputation
Financial performance
Corporate sustainable growth
Panel data methodology
title Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India
title_full Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India
title_fullStr Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India
title_full_unstemmed Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India
title_short Impact of CEO attributes on corporate reputation, financial performance, and corporate sustainable growth: evidence from India
title_sort impact of ceo attributes on corporate reputation financial performance and corporate sustainable growth evidence from india
topic CEO attributes
Corporate reputation
Financial performance
Corporate sustainable growth
Panel data methodology
url https://doi.org/10.1186/s40854-022-00344-7
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