The Impact of Managers on Firm Performance and Policies

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Bahadori, Niloofar | 2019

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 52502 (44)
University: Sharif University of Technology
Department: Management and Economics
Advisor(s): Barakchian, Mahdi; Ebrahimnejad, Ali
Abstract:
The aim of this paper is to investigate the effects of Iranian Chief Executive Managers and board of directors on the outcomes of their firms. First, by exploiting the information about changes in the combination of managers in 488 firms in Tehran Stock Exchange and Iran Fara Bourse, this study seeks to give an insight about managers’ labor market in Iran. Then, after combining these data with the obtained information from the firms’ financial statements, we run a set of regressions to identify whether managers have significant effect on the firms’ behaviors and performance. The results of this investigation show that a significant portion of changes in firms’ outcomes can be explained by the changes in the combination of managers. Furthermore, the results of another set of regressions in the paper revealed that there are systematic differences in firm performance between managers. Also, these findings suggest that managers can have different styles in their management decisions and these styles can lead to high or low performance in their firms
Keywords:
Firm's Performance ; Management Importance ; Firm Behaviors ; Managers Decisions

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