Role of educational, regional and religious attributes of CEOs in performance of Indian family firms

Purpose>The authors investigate whether community-based CEO's attributes, particularly educational attainment, regional and religious affiliation, are direct antecedents of performance in family-controlled Indian firms. The authors further examine whether CEO's education moderates the l...

Full description

Saved in:
Bibliographic Details
Published in:International journal of managerial finance 2022-09, Vol.18 (5), p.997-1027
Main Authors: DasGupta, Ranjan, Pathak, Rajesh
Format: Article
Language:English
Subjects:
Capital markets
Chief executive officers
Decision making
Education
Educational attainment
Family owned businesses
Influence
Religion
Social responsibility
Stockholders
Citations: Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Purpose>The authors investigate whether community-based CEO's attributes, particularly educational attainment, regional and religious affiliation, are direct antecedents of performance in family-controlled Indian firms. The authors further examine whether CEO's education moderates the linkage of firm performance with regional and religious affiliation.Design/methodology/approach>The authors employ pooled Ordinary Least Square with fixed effects and Fama-Macbeth regression techniques to test their hypotheses.Findings>The results reveal that firms with post-graduate CEOs in business and firms with doctorate CEOs, significantly outperform peer firms. The authors also find that CEOs from northern India outperform peer CEOs consistently which emanates from the risk-taking differentials of CEO's across regions. Hindu CEOs also deliver superior return on assets. However, CEO's educational attainment moderates the influence of regional and religious affiliations.Originality/value>This study is unique as it contributes on the role of regional affiliation of top executives in determining performance which almost remains unexplored in existing literature.
ISSN:1743-9132
1758-6569
DOI:10.1108/IJMF-06-2021-0268