Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/260506 
Erscheinungsjahr: 
2022
Schriftenreihe/Nr.: 
Working Paper No. 936
Verlag: 
Queen Mary University of London, School of Economics and Finance, London
Zusammenfassung: 
We study whether CEO political ideology affected how S&P 500 firms reacted to the Covid-19 pandemic, an exogenous shock to demand and supply. We hypothesize that conservative CEOs are more likely to adopt shareholder-friendly than employee-friendly reactions to the pandemic. Hence, they should be more likely to downsize their workforce while maintaining dividends. In contrast, other CEOs should be less likely to meet dividend expectations and less likely to downsize. We find confirmation of this hypothesis. We also find that CEOs used the dividend forecasts for 2020 as their benchmark rather than the 2019 dividends to make their dividend decision.
Schlagwörter: 
CEO political ideology
dividend policy
downsizing
stakeholder management
Covid-19
JEL: 
G35
G34
M51
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
446.32 kB





Publikationen in EconStor sind urheberrechtlich geschützt.