Do Chief Executives’ Traits Affect the Financial Performance of Risk‐trading Firms? Evidence from the UK Insurance Industry
利用英国财产责任保险业1999-2012年面板数据，研究CEO的保险经验、财务专长、权力和年龄四个特质对六项财务绩效指标的影响，发现保险经验和财务专长能提升绩效，而权力和年龄影响不显著。
We examine the effects of four key dimensions of Chief Executive Officers’ (CEOs’) traits on six financial performance metrics using panel data for 1999−2012 drawn from the UK's property−casualty insurance industry. We find that CEO insurance experience and CEO financial expertise enhance financial performance, while two other CEO traits − power and age − are generally not significant. Our results thus reinforce the importance of CEO insurance industry expertise and CEO financial expertise in the management and trading of risks. Our results have potential commercial and policy implications.