Neighborhood CEOs

Mario Amore (), Morten Bennedsen and Birthe Larsen

No 17333, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: The working environment is a key driver of firms’ success. Using unique survey and register data from Denmark, we show that firms led by neighborhood CEOs – defined by physical distance and personal values - exhibit better workplace conditions as perceived both by a regulatory authority and firms’ own employees. The effect is stronger when the CEO’s and employees’ children attend the same school, pointing to social interactions as a channel for the result. Finally, we show that CEOs who emphasize neighborhood engagement adopt a management style tilted toward employees’ welfare.

Keywords: Ceos; Geographic proximity; Neighborhood values; Working environment; Management style (search for similar items in EconPapers)
JEL-codes: G34 (search for similar items in EconPapers)
Date: 2022-05
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