The politician as a CEO, corporate governance and firm value

Amin, Q.A. ORCID: 0000-0002-7446-249X and Cumming, D., 2023. The politician as a CEO, corporate governance and firm value. Journal of International Financial Markets, Institutions and Money, 87: 101804. ISSN 1042-4431

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Abstract

Using a data set of two important emerging markets namely Taiwan and Pakistan, we investigate an unexplored dynamic of the top leadership i.e. the politician as a CEO and determine their impact on firm value. We show that the presence of the powerful politician as a CEO tends to limit the board power and endorse managerial entrenchment i.e. put their self-interests ahead of the firm's goals, which in turn, damage the firms’ value. We find a significant negative moderating effect of the political CEOs on the relationship of concentrated ownership, board independence and firm value.

Item Type:	Journal article
Publication Title:	Journal of International Financial Markets, Institutions and Money
Creators:	Amin, Q.A. and Cumming, D.
Publisher:	Elsevier
Date:	September 2023
Volume:	87
ISSN:	1042-4431
Identifiers:	Number Type 10.1016/j.intfin.2023.101804 DOI S1042443123000720 Publisher Item Identifier 1806969 Other
Divisions:	Schools > Nottingham Business School
Record created by:	Jonathan Gallacher
Date Added:	25 Sep 2023 15:27
Last Modified:	20 Oct 2023 17:03
URI:	https://irep.ntu.ac.uk/id/eprint/49810

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