Having a celebrity CEO might guarantee headlines but it doesn't necessarily deliver inspiring stock market results, a recent study has found.
The US study looked at 278 corporations to determine the relationship between celebrity CEOs, market expectations and stock market performance.
According to the strategy+business article on the study, companies generally experience a slight rise (of around 0.25 per cent) in market return just after announcing the appointment of an acclaimed CEO. [free registration required to read full article]
However, this moderately good news is short lived: "Within 30 days, actual return versus expected market return was marginally negative (negative 1.13 per cent), and after eight months, significantly negative (negative 8.23 per cent)."
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Posted by: BurnettVictoria22 | 01 July 2011 at 10:42 PM