| Title |
Organizational capital and stock performance during Crises: Moderating role of generalist CEO |
| ID_Doc |
76891 |
| Authors |
Lee, CC; Atukeren, E; Kim, H |
| Title |
Organizational capital and stock performance during Crises: Moderating role of generalist CEO |
| Year |
2025 |
| Published |
|
| DOI |
10.1016/j.najef.2024.102274 |
| Abstract |
This study examines the relationship between organizational capital (OC) and stock performance during the two recent crisis periods, namely the GFC and COVID-19. Economic crises highlight the sustainable competitiveness of firms, providing an opportunity to identify the role of OC. OC is intangible capital that encompasses intrinsic business processes and expertise, facilitating more efficient resource utilization than competitors. Results show that a greater OC is significantly associated with higher stock returns during both crisis periods. The association is robust to the models with firm-fixed effects and instrumental variables. In addition, we find evidence that generalist CEOs strengthen this relationship while specialist CEOs do not. This study emphasizes the pivotal role of OC as a protective buffer against external shocks, particularly during periods when the market pays more attention to corporate sustainability. |
| Author Keywords |
Organization Capital; Economic Crisis; Stock Return; Generalist CEO; Specialist CEO |
| Index Keywords |
Index Keywords |
| Document Type |
Other |
| Open Access |
Open Access |
| Source |
Social Science Citation Index (SSCI) |
| EID |
WOS:001302857500001 |
| WoS Category |
Business, Finance; Economics |
| Research Area |
Business & Economics |
| PDF |
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