Image of CEO Political Leanings and Store-Level Economic Activity during the COVID-19 Crisis : Effects on Shareholder Value and Public Health

CEO Political Leanings and Store-Level Economic Activity during the COVID-19 Crisis : Effects on Shareholder Value and Public Health

Maintaining economic output during the COVID-19 pandemic results in benefits for firm shareholders but comes at a potential cost to public health. Using store-level data, we examine how a CEO's political leaning impacts this trade-off. We document that firms with a Republican-leaning CEO experience a relative increase in store visits compared to firms with a Democratic-leaning CEO. The increase in store visits is associated with higher sales and positive abnormal stock returns. However, we also document higher COVID-19 transmission rates and more employee safety complaints in communities where establishments with higher store traffic are managed by a Republican-leaning CEO.

Ketersediaan
Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana (Koleksi Majalah)1
Informasi Detail
Judul Seri
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No. Panggil
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Penerbit
USA : The American Finance Association.,
Deskripsi Fisik
First published: 09 August 2022
Bahasa
English
ISBN/ISSN
1540-6261
Klasifikasi
NONE
Tipe Isi
text
Tipe Media
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Tipe Pembawa
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Edisi
Volume 77, Issue 5, October 2022, Pages 2949-2986
Subjek
Public health
Covid-19
shareholder value
Info Detail Spesifik
The Journal of Finance
Pernyataan Tanggungjawab
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