The Paradox of Awards : How Status Ripples Affect Who Benefits from CEO Awards

Jensen, Michael; Twardawski, Torsten; Younes, Nadja

The Paradox of Awards : How Status Ripples Affect Who Benefits from CEO Awards

Dateien

Zu diesem Dokument gibt es keine Dateien.

Datum

2022

Autor:innen

Jensen, Michael

Twardawski, Torsten

Younes, Nadja

DOI (zitierfähiger Link)

https://doi.org/10.1287/orsc.2021.1475

Sammlungen

Wirtschaftswissenschaften
Psychologie

Publikationstyp

Zeitschriftenartikel

Publikationsstatus

Published

Erschienen in

Organization Science. Institute for Operations Research and the Management Sciences (INFORMS). 2022, 33(3), pp. 946-968. ISSN 1047-7039. eISSN 1526-5455. Available under: doi: 10.1287/orsc.2021.1475

Zusammenfassung

Distinguishing between status spillovers and status ripples, we argue that sudden positive status shifts create status ripples when the social actors experiencing the status shifts are more constrained from exploiting their higher status than the social actors to whom they are affiliated. Specifically, we examine the status ripple paradox that the status effects experienced by the affiliated actors sometimes are as strong, or even stronger, as the direct status effects experienced by the ascending actors themselves. Focusing empirically on prestigious CEO awards from U.S. news magazines, we examine the consequences of positive status shifts for the awarded CEOs and the CEOs who are on the boards of directors of the awarded CEOs’ firms. We find evidence of status ripples in CEO compensation by showing that awarded CEOs have relatively greater immediate but smaller subsequent increases in compensation, which results in lower overall compensation effects for the awarded CEOs. Moreover, we provide empirical evidence of the theoretical mechanisms behind the status ripple paradox by showing that external constraints in the form of increased media and analyst attention and increased expectations affect the status ripple effect.

Fachgebiet (DDC)

330 Wirtschaft

Schlagwörter

status, spillover, CEOs, compensation, directors, corporate governance

Zitieren

ISO 690

JENSEN, Michael, Torsten TWARDAWSKI, Nadja YOUNES, 2022. The Paradox of Awards : How Status Ripples Affect Who Benefits from CEO Awards. In: Organization Science. Institute for Operations Research and the Management Sciences (INFORMS). 2022, 33(3), pp. 946-968. ISSN 1047-7039. eISSN 1526-5455. Available under: doi: 10.1287/orsc.2021.1475

BibTex

@article{Jensen2022Parad-55779,
  year={2022},
  doi={10.1287/orsc.2021.1475},
  title={The Paradox of Awards : How Status Ripples Affect Who Benefits from CEO Awards},
  number={3},
  volume={33},
  issn={1047-7039},
  journal={Organization Science},
  pages={946--968},
  author={Jensen, Michael and Twardawski, Torsten and Younes, Nadja}
}

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