Managerial Capital and the Market for CEOs

By Kevin J. Murphy, Ján Zábojník. 2007

468 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/28d39535b559a7d52026431b3dc89394b51fe811

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Citations in the corpus

Managerial Attributes and Executive Compensation (2011, unknown): “Consistent with Murphy and Zabojnik (2004, 2007), θi can be interpreted as managerial ability or managers’ general skills and is transferable across companies.”
How costly is corporate bankruptcy for top executives (2012, unknown): “This suggests that managerial skills are not necessarily firm- or even industry-specific, so that a large number of departed managers have value also for companies in largely unrelated industries (Murphy and Zabojnik, 2007).”
Executive Compensation: A Survey of Theory and Evidence (2017, unknown): “rms, external hires as a percentage of all new CEO appointments increased from 15% in the 1970s to 27% during the 1990s (Murphy and Zábojník, 2007) and 32% during the 2000s (Cziraki and Jenter, 2017).”
Jack of all, master of all? CEO generalist experience and firm performance (2019, background): “Murphy and Zabojnik (2007) found that in CEO hiring and compensation decisions, “‘general managerial ability’ (managerial skills critical in leading a complex modern corporation but not specific to any organization) [is preferred over] ‘firm-specific managerial capital’ reflecting skills,…”
Do General Managerial Skills Spur Innovation? (2017, background): “Manso (2011) shows that the optimal incentive mechanism that motivates innovation rewards long term success but tolerates early failure.2 1 Murphy and Zabojnik (2007) show that increases in external CEO hiring and executive compensation can be explained by the increased importance of general skills…”