NDLI: Looking in the Rearview Mirror: The Effect of Managers' Professional Experience on Corporate Financial Policy

Please wait, while we are loading the content...

Looking in the Rearview Mirror: The Effect of Managers' Professional Experience on Corporate Financial Policy

Content Provider	Semantic Scholar
Author	Dittmar, Amy K. Duchin, Ran
Copyright Year	2015
Abstract	We track the employment history of over 9,000 managers to study the effects of professional experiences on corporate policies. Our identification strategy exploits exogenous CEO turnovers and employment in other firms and in non-CEO roles. Firms run by CEOs who experienced distress have less debt, save more cash, and invest less than other firms, with stronger effects in poorly governed firms. Experience has a stronger influence when it is more recent or occurs during salient periods in a manager's career. We find similar effects for CFOs. The results suggest that policies vary with managers' experiences and throughout managers' careers. Received January 28, 2014; accepted May 17, 2015 by Editor David Denis.
Starting Page	565
Ending Page	602
Page Count	38
File Format	PDF HTM / HTML
DOI	10.2139/ssrn.2142465
Alternate Webpage(s)	http://www.bus.umich.edu/FacultyBios/CV/adittmar.pdf
Alternate Webpage(s)	http://www.lebow.drexel.edu/sites/default/files/event/Looking%20in%20the%20Rear%20View%20Mirror.pdf
Alternate Webpage(s)	https://deepblue.lib.umich.edu/bitstream/handle/2027.42/102598/1221_Dittmar.pdf;sequence=1
Alternate Webpage(s)	https://doi.org/10.2139/ssrn.2142465
Volume Number	29
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in