Title: The impact of CEOs age on corporate performance in the medical industry: Evidence from China
Authors: Qing Xu; Chunxiao Xue; Jianing Zhang
Addresses: College of Business and Public Management, Wenzhou-Kean University, Wenzhou, 325060, China ' College of Business and Public Management, Wenzhou-Kean University, Wenzhou, 325060, China ' College of Business and Public Management, Wenzhou-Kean University, Wenzhou, 325060, China
Abstract: The study examines the relationship between chief executive officer's (CEO) age and firm performance in Chinese medical companies and explores how CEOs of different ages have responded to the coexistence of opportunities and challenges during COVID-19. The study focuses on the healthcare and medical industries, exploring whether this particular industry would perform differently during the pandemic. We find no significant relationship between CEO age and company ROA, but a positive relationship between CEO age and company Tobin's Q. And the significantly positive relationship between CEO age and company Tobin's Q disappears during COVID-19. This study provides valuable guidance for the corporate governance of managers and policymakers. China's central role in global trade makes insights from its medical industry pertinent to international markets, affecting investment strategies and policy-making globally. The study's findings on CEO age and firm performance offer valuable lessons for management and governance practices worldwide.
Keywords: CEO age; firm performance; medical industry; COVID-19; China.
DOI: 10.1504/IJMEF.2024.139039
International Journal of Monetary Economics and Finance, 2024 Vol.17 No.2/3, pp.160 - 169
Received: 28 Jan 2023
Accepted: 29 Oct 2023
Published online: 10 Jun 2024 *