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  1. Ancestors, inter-generational transmission of attitudes, and corporate performance
    evidence from the Italian Mass Migration
    Author: Florio, Erminia; Manfredonia, Stefano
    Published: 2021
    Publisher:  Global Labor Organization (GLO), Essen

    We study the effect of the attitudes of a CEO's ancestors on firm performance. To do so, we collect detailed information on emigrants from Italian municipalities during the Age of Mass Migration (1892-1924) from Ellis Island ships lists and use... more

    Access:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 565
    Inter-library loan:
    No inter-library loan

     

    We study the effect of the attitudes of a CEO's ancestors on firm performance. To do so, we collect detailed information on emigrants from Italian municipalities during the Age of Mass Migration (1892-1924) from Ellis Island ships lists and use emigration experience as a proxy for ancestors' risk propensity. We adopt an epidemiological approach complemented with an instrumental variables strategy and find that Italian firms managed by a CEO that belongs to a family with past emigration experience tend to perform better and to be more productive. In line with an inter-generational transmission of attitudes hypothesis, we show a positive relationship between the emigration experience of a CEO's ancestors and alternative measures of corporate risk-taking. The attitudes of a CEO's ancestors have as well consequences on firm solvency and on the cost of capital.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/233600
    Series: GLO discussion paper ; no. 830
    Subjects: Emigration; Attitudes; Corporate Performance; Mass Migration
    Scope: 1 Online-Ressource (circa 33 Seiten), Illustrationen