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Si us plau utilitzeu sempre aquest identificador per citar o enllaçar aquest document: https://hdl.handle.net/2445/221525
From Rivals to Allies? CEO Connections in an Era of Common Ownership
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Institutional common ownership of firm pairs in the same industry increases the likelihood of a preexisting social connection among their CEOs. We establish this relationship using a quasinatural experiment that exploits institutional mergers combined with firms' hiring events and detailed information on CEO biographies. In addition, for peer firms, gaining a CEO connection from a hiring firm's CEO appointment correlates with higher returns on assets, stock market returns, and decreasing product similarity between companies. We find evidence consistent with common owners allocating CEO connections to shape managerial decisionmaking and increase portfolio firms' performance.
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HUTSCHENREITER, Dennis C. and QIANSHUO, Liu. From Rivals to Allies? CEO Connections in an Era of Common Ownership. UB Economics – Working Papers. 2025. Vol. E25/486. [consulted: 23 of August of 2026]. Available at: https://hdl.handle.net/2445/221525