Glassdoor: Are the Top CEOs Representing the Best Investments

In 2013, Glassdoor launched the Employees' Choice Awards for the Top CEOs. Glassdoor's awards are unique in that feedback from employees exclusively determines the winners. Given Glassdoor's notoriety, claiming 64 million unique visitors and 11 million job listings monthly, being listed as a Top CEO certainly has reputational value - but does it translate to higher shareholder returns? We find that the overall Top CEO sample statistically outperforms a matched sample and the S&P 500 index on a raw and risk-adjusted basis with superior Tobin's Q and annual returns one year after the announcement.

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Work Title Glassdoor: Are the Top CEOs Representing the Best Investments
Access
Open Access
Creators
  1. Greg Filbeck
  2. Xin Zhao
Keyword
  1. Shareholders wealth
  2. Event study
  3. Investment strategy
License In Copyright (Rights Reserved)
Work Type Article
Publisher
  1. The Quarterly Journal of Finance
Publication Date July 30, 2022
Publisher Identifier (DOI)
  1. https://doi.org/10.1142/S2010139222500094
Deposited February 19, 2024

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Version 1
published

  • Created
  • Added 2nd_Proof_corrections_done_2250009_qjf-mgf.pdf
  • Added Creator Greg Filbeck
  • Added Creator Xin Zhao
  • Published
  • Updated Keyword, Publisher, Publication Date Show Changes
    Keyword
    • Shareholders wealth, Event study, Investment strategy
    Publisher
    • Quarterly Journal of Finance
    • The Quarterly Journal of Finance
    Publication Date
    • 2022-01-01
    • 2022-07-30
  • Updated