dc.contributor.author
Hutschenreiter, Dennis C.
dc.contributor.author
Qianshuo, Liu
dc.date.issued
2025-06-13T09:54:21Z
dc.date.issued
2025-06-13T09:54:21Z
dc.identifier
https://hdl.handle.net/2445/221525
dc.description.abstract
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.
dc.format
application/pdf
dc.format
application/pdf
dc.relation
UB Economics – Working Papers, 2025, E25/486
dc.relation
[WP E-Eco25/486]
dc.rights
cc-by-nc-nd, (c) Hutschenreiter, et al., 2025
dc.rights
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.rights
info:eu-repo/semantics/openAccess
dc.source
UB Economics – Working Papers [ERE]
dc.subject
Gestió de cartera
dc.subject
Cooperació empresarial
dc.subject
Portfolio management
dc.subject
Enterprise cooperation
dc.title
From Rivals to Allies? CEO Connections in an Era of Common Ownership
dc.type
info:eu-repo/semantics/workingPaper
