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CEO reputation in corporate innovation: Financing versus talent-attraction

Author

Listed:
  • Sun, Yanmei
  • Wang, Changyun
  • Wang, Yuqi

Abstract

In this paper we measure the CEO reputation based on not only "how the CEO performs" but also "how the CEO is perceived", including three dimensions: firm performance, CEO passive reputation from search engine and proactive reputation management through managers’ microblogging, and document that CEO reputation has a positive effect on corporate innovation. Using a novel data crawling from authenticated microblogs of CEOs, we find that CEO reputation can enhance the level of corporate innovation through two channels: on one hand, it alleviates financing constraints, reduces the cost of equity financing, and promotes equity financing; on the other hand, it enhances the level of collaboration with research and development (R&D) personnel and increases the involvement of academicians in innovation activities. We also show that the impact of proactive reputation management through microblogging is relatively limited comparing to competence and passive media attention.

Suggested Citation

  • Sun, Yanmei & Wang, Changyun & Wang, Yuqi, 2025. "CEO reputation in corporate innovation: Financing versus talent-attraction," Research in International Business and Finance, Elsevier, vol. 75(C).
    • Handle: RePEc:eee:riibaf:v:75:y:2025:i:c:s0275531924005294
    DOI: 10.1016/j.ribaf.2024.102736
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    More about this item

    Keywords

    CEO reputation; Reputation management; Financing; Innovation;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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