 Chief executive officer marital status and corporate credit ratingsXiangshang Cai, Yang Gao, Zhiting Wu and Jiayi Yuan International Review of Financial Analysis, 2024, vol. 95, issue PA Abstract: In this study, we investigate the effects of CEO marital status on credit risk assessments. We find that firms with married CEOs receive more favorable credit ratings. We also find that firms with married CEOs have a lower bankruptcy risk, less exposure to business uncertainty shocks, and better institutional corporate social responsibility (CSR) performance, giving richer insights into potential mechanisms through which married CEOs improve credit ratings. Furthermore, we find that the positive effects of married CEOs on credit ratings are more pronounced for firms with stronger CEO risk-taking incentives provided by option compensation and firms with greater tournament incentives measured as the pay gap between the CEO and the next layer of senior executives. Overall, this study emphasizes the implications of CEO marital status for debtholder wealth. Keywords: CEO marital status; Corporate credit ratings; Bankruptcy risk; Corporate social responsibility (CSR); Business uncertainty shocks (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:95:y:2024:i:pa:s105752192400317x DOI: 10.1016/j.irfa.2024.103385 Access Statistics for this article International Review of Financial Analysis is currently edited by B.M. Lucey More articles in International Review of Financial Analysis from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.