Abstract
This paper examines whether credit rating agencies consider CEOs with Party school education as a risk factor in credit assessments using Chinese SOEs data from 2006 to 2020. Our findings suggest Party school CEOs are associated with higher credit ratings and exhibit lower risk-taking, resulting in less volatile performance. This research offers initial evidence on the benefits and costs of hiring politically connected CEOs, specifically Party school-educated ones.
| Original language | English |
|---|---|
| Journal | Applied Economics Letters |
| DOIs | |
| Publication status | Accepted/In press - 2024 |
Keywords
- CEO characteristics
- credit rating
- Party school
- political connection
- risk-taking
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He, X., Yang, Y., Fu, S. M., & Xu, C. (Accepted/In press). Party school CEO and credit ratings: evidence from Chinese state-owned-enterprises. Applied Economics Letters. https://doi.org/10.1080/13504851.2024.2425398