Study: prettier director - more successful IPO
A group of researchers from Stanford, the University of North Carolina and the University of Michigan found that the appearance of the company's CEO affects the value of shares during an IPO, the Wall Street Journal writes. The study involved nine hundred random people who evaluated the appearance and manners of two hundred and twenty-four CEOs of companies: respondents watched a thirty-second presentation of heads of companies without sound.
Ilon Musk Tesla Motors began to be listed on NASDAQ on June 29, 2010.
The human brain evaluates other people by observing appearance and manners. The study participants rated the attractiveness and competence of the heads of companies and the extent to which the CEO inspires confidence in them. The presentations were silent, so that respondents could not evaluate the information from the speech.
The directors of companies whose stock price at the initial public offering was 11% higher than expected based on the fundamental forecast were rated according to three criteria above the average by 5%. One year after the IPO, these companies continue to show good performance. The main role was played by competence, in second place - the attractiveness of the director, in the third - the ability to inspire confidence.
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In addition to forecasts of profitability, quality of management and data on market share, the appearance of the company's top managers is important for investors. Stanford Graduate School of Business study author Elizabeth Blankspur notes: “You have all the numbers in the prospectus. You know all the ins and outs of the general director. So why are you dating him? ”
In the Wall Street Journal, you can check whether you can choose the best company for an investment by the appearance of the CEO based on the gifs without sound.
Ilon Musk Tesla Motors began to be listed on NASDAQ on June 29, 2010.
The human brain evaluates other people by observing appearance and manners. The study participants rated the attractiveness and competence of the heads of companies and the extent to which the CEO inspires confidence in them. The presentations were silent, so that respondents could not evaluate the information from the speech.
The directors of companies whose stock price at the initial public offering was 11% higher than expected based on the fundamental forecast were rated according to three criteria above the average by 5%. One year after the IPO, these companies continue to show good performance. The main role was played by competence, in second place - the attractiveness of the director, in the third - the ability to inspire confidence.
')
In addition to forecasts of profitability, quality of management and data on market share, the appearance of the company's top managers is important for investors. Stanford Graduate School of Business study author Elizabeth Blankspur notes: “You have all the numbers in the prospectus. You know all the ins and outs of the general director. So why are you dating him? ”
In the Wall Street Journal, you can check whether you can choose the best company for an investment by the appearance of the CEO based on the gifs without sound.
Source: https://habr.com/ru/post/293808/
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