Award-winning CEOs and corporate innovation
研究发现媒体评选的获奖CEO所在企业创新产出无显著提升，而非媒体奖项获奖CEO所在企业在获奖后第二、三年专利和引用数显著增加，原因在于媒体奖项增加短期压力，而非媒体奖项改善员工待遇。
We examine the role of award-winning CEOs in corporate innovative activities. We find no significant difference in innovation outputs between firms of media award-winning CEOs and a matched sample of predicted winners. However, firms headed by winners of non-media awards generate significantly more patents and citations in the second and third year after the award. Firms led by CEO-winners of media awards attract more interest in Google and see an increase in the number of financial analysts that follow them. These effects likely exert more pressure on managers to meet short-term goals and hence impede the firms’ innovation. We do not find the same effects for firms that have CEOs who win non-media awards. The latter category sees an improvement in employee treatment following the award year. These different channels explain why innovation only increases for firms that are headed by CEOs who win non-media awards.