Remotely Productive: The Efficacy of Remote Work for Executives
研究CEO远程工作安排对公司绩效的影响，发现远程工作虽能吸引人才但会降低运营绩效、公司估值和内部评价，且距离越远、跨时区越多，负面效应越大。
Abstract We study the efficacy of remote arrangements between CEOs and firms. Such arrangements attract executive talent and overcome labor market segmentation but introduce frictions. Remote arrangements are associated with lower operating performance, firm valuation, and insider reviews. Using the private costs from uprooting the CEO’s spouse as an instrument for the CEO’s decision to seek remote work, we find similar negative effects. The performance decline increases for CEOs who live further away and who cross multiple time zones. The mechanisms include the CEO’s loss of information, short-termism, and consumption of leisure, such as recreational boats and beach homes.