CEO Political Leanings and Store-Level Economic Activity during COVID-19 Crisis: Effects on Shareholder Value and Public Health
SSRN, ISSN: 1556-5068
2020
- 23Citations
- 6,180Usage
- 11Captures
- 1Mentions
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Example: if you select the 1-year option for an article published in 2019 and a metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019. If you select the 3-year option for the same article published in 2019 and the metric category shows 90%, that means that the article or review is performing better than 90% of the other articles/reviews published in that journal in 2019, 2018 and 2017.
Citation Benchmarking is provided by Scopus and SciVal and is different from the metrics context provided by PlumX Metrics.
Article Description
Maintaining economic output during COVID-19 pandemic can result in benefits for a firm’s shareholders but comes at a potential cost to public health. Using novel retail store-level data, we examine how a CEO’s political leanings, measured by political donations, impacts this tradeoff. We document that firms with Republican-leaning CEOs experience a relative increase in store visits compared to firms with Democrat-leaning CEOs. The increase in store visits is associated with positive abnormal stock returns. However, we also document higher COVID-19 transmission rates and more employee safety complaints in communities where establishments with higher store traffic are managed by Republican-leaning CEOs.
Bibliographic Details
http://www.scopus.com/inward/record.url?partnerID=HzOxMe3b&scp=85110139743&origin=inward; http://dx.doi.org/10.2139/ssrn.3674512; https://www.ssrn.com/abstract=3674512; https://dx.doi.org/10.2139/ssrn.3674512; https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3674512; https://ssrn.com/abstract=3674512
Elsevier BV
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