Managers with and without Style: Evidence Using Exogenous Variation

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C. Edward Fee; Charles J. Hadlock; Joshua R. Pierce;
  • Journal: The Review of Financial Studies,volume 26,issue 3,pages567-601
  • Related identifiers: doi: 10.1093/rfs/hhs131

In a large panel of Compustat firms, we find that firm policy changes after exogenous CEO departures do not display abnormally high levels of variability, casting doubt on the presence of idiosyncratic-style effects in policy choices. After endogenous CEO departures, we... View more
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