CEO Stress, Aging, and Death
研究了CEO在行业困境冲击下的压力如何加速其衰老并缩短寿命，使用神经网络分析面部图像和死亡率数据，发现压力导致表观年龄增加约1年，预期寿命减少1.1年，而反收购法保护下的CEO寿命反而增加2年。
ABSTRACT We assess the long‐term effects of managerial stress on aging and mortality. Using a difference‐in‐differences design, we apply neural network–based machine‐learning techniques to CEOs' facial images and show that exposure to industry distress shocks during the Great Recession produces visible signs of aging. We estimate a one‐year increase in “apparent” age. Moreover, using data on CEOs since the mid‐1970s, we estimate a 1.1‐year decrease in life expectancy after an industry distress shock, but a two‐year increase when antitakeover laws insulate CEOs from market discipline. The estimated health costs are significant, both in absolute terms and relative to other health risks.