Mind the chair-CEO age dissimilarity: an implicit internal monitoring mechanism

Jiajun Zhu, Jing Gao and Hongping Tan

Applied Economics Letters, 2023, vol. 30, issue 15, 2014-2019

Abstract: Age dissimilarity is an important indicator of executives’ heterogeneity and cognitive conflict. Using Chinese-listed firms between 2005 and 2020 as sample, this paper finds that greater chair–CEO age dissimilarity results in more board monitoring and higher firm value. In addition, the board monitoring plays a mediating role in explaining the relationship between age dissimilarity and firm value. However, the effect of age dissimilarity may be opposite when the chairman is younger than the CEO.

Date: 2023
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DOI: 10.1080/13504851.2022.2089340

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