Browsing Sonderforschungsbereich 649: Ökonomisches Risiko by Author "25d679193aeaf44f21d0df4ef690b127"

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2007-09-19Diskussionspapier

Why Managers Hold Shares of Their Firms

Lilienfeld-Toal, Ulf von; Ruenzi, Stefan

We examine the relationship between CEO ownership and stock market performance. Firms in which the CEO voluntarily holds a considerable share of outstanding stocks outperform the market by more than 10% p.a. after controlling ...