Athletes in boardrooms: Evidence from the world

Yizhe Dong, Tinghua Duan, Wenxuan Hou and Liu, Yue (Lucy)

Journal of International Financial Markets, Institutions and Money, 2019, vol. 59, issue C, 165-183

Abstract: This study examines the relation between the athletic experience of board directors and corporate outcomes. We predict that athletes’ attributes, such as physical fitness, mental resilience, leadership, and team-working skills, enhance their monitoring role. Using a large sample from 71 countries, we find that athletic experience is associated with better firm performance. The benefits are more pronounced when the experience is of team sports and confrontational sports, and for firms experiencing financial crisis. The results remain consistent when we instrument the athletic experience of directors with the number of Olympic medals won and Olympic sports participated in by the country in question at the previous Olympic Games.

Keywords: Athlete; Corporate board; Director; Firm performance; Sports (search for similar items in EconPapers)
JEL-codes: G15 G32 G34 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfin:v:59:y:2019:i:c:p:165-183

DOI: 10.1016/j.intfin.2018.12.009

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