CEO personality traits and compensation: evidence from investment efficiency
研究了CEO的五大性格特质（开放性、尽责性、外向性、宜人性和神经质）对年薪的影响，发现宜人性和尽责性高的CEO薪酬更高，且其公司因投资效率更优而业绩更好。
Abstract We examine the effects of the big five personalities of CEOs (openness, conscientiousness, extroversion, agreeableness, and neuroticism) on their annual compensation. We hand-collect the tweets of S&P 1500 CEOs and use IBM’s Watson Personality Insights to measure their personalities. CEOs with high ratings of agreeableness and conscientiousness get more compensation. We further find that the firms with these CEOs outperform their peers due to better investment efficiency. Firms are willing to pay higher compensation for talent, especially for firms with better operations, located in states with higher labor unionization, or facing higher competition in the product market. Overall, CEO personality is a valid predictor of CEOs’ compensation.