Athletes in boardrooms: Evidence from the world

Yizhe Dong, Tinghua Duan, Wenxuan Hou and Yue (lucy) Liu
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Tinghua Duan: LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - Université de Lille - CNRS - Centre National de la Recherche Scientifique

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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)
Date: 2019-03
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Citations: View citations in EconPapers (3)

Published in Journal of International Financial Markets, Institutions and Money, 2019, 59, pp.165-183. ⟨10.1016/j.intfin.2018.12.009⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02115617

DOI: 10.1016/j.intfin.2018.12.009

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