The impact of CEO status diffusion on the economic outcomes of other senior managers

• 成果类型: Article
• 署名作者: Graffin, Scott D.; Wade, James B.; Porac, Joseph F.; McNamee, Robert C.
• 署名单位: University System of Georgia; University of Georgia; Georgetown University; New York University; Rutgers University System; Rutgers University Newark; Rutgers University New Brunswick
• 刊物名称: ORGANIZATION SCIENCE
• ISSN/ISSBN: 1047-7039
• DOI: 10.1287/orsc.1080.0354
• 发表日期: 2008
• 页码: 457-474
• 关键词: CEO celebrity; status; TOP MANAGEMENT TEAM; COMPENSATION; status leakage

摘要

In this paper we develop and test predictions regarding the impact of CEO status on the economic outcomes of top management team members. Using a unique data set incorporating Financial World's widely publicized CEO of the Year contest, we found that non-CEO top management team members received higher pay when they worked for a high-status CEO. However, star CEOs themselves retained most of the compensation benefits. We also show that there is a burden of celebrity in that the above relationships were contingent on how well a firm performs. Last, we found that, when compared with the subordinates of less-celebrated CEOs, members of top management teams who worked for star CEOs were more likely to become CEOs themselves through internal or external promotions.