Skip to search
Skip to main content
Catalog
Help
Feedback
Your Account
Library Account
Bookmarks
(
0
)
Search History
Search in
Keyword
Title (keyword)
Author (keyword)
Subject (keyword)
Title starts with
Subject (browse)
Author (browse)
Author (sorted by title)
Call number (browse)
search for
Search
Advanced Search
Bookmarks
(
0
)
Princeton University Library Catalog
Start over
Send
to
SMS
Email
Printer
Bookmark
Personal CEO Characteristics and Firm Capital Structures
Author/Artist
Cottarelli, Nicolo
[Browse]
Format
Senior thesis
Language
English
Description
70 pages
Availability
Available Online
Full text:
DataSpace
Details
Advisor(s)
Battaglini, Marco
[Browse]
Department
Princeton University. Department of Economics
[Browse]
Class year
2014
Summary note
This dissertation explores how manager-specific characteristics can distort firm investment policies and affect capital structure outcomes. I introduce a model of project choice which implies that managers who seek to develop their reputations will select safer projects and by extension face easier debt-financing environments. I then conduct an empirical analysis of 483 entries of matched firm-CEO data in the period between 2004 and 2007 in search of empirical support for this claim. My strongest and most salient finding is of a quadratic relationship between CEO age and firm debt ratios; this result is consistent with the hypothesis that managers are most reputation-sensitive at the start and end of their careers.
Statement on language in description
Princeton University Library aims to describe library materials in a manner that is respectful to the individuals and communities who create, use, and are represented in the collections we manage.
Read more...
Ask a Question
Suggest a Correction
Report Harmful Language
Supplementary Information