Heavy is the Crown: CEOs' Social Interactions and Layoff Decisions - HAL UNIV-PARIS8 - open access Access content directly
Preprints, Working Papers, ... Year : 2023

Heavy is the Crown: CEOs' Social Interactions and Layoff Decisions

Abstract

We develop a theory of non-monetary costs incurred by CEOs when deciding about layoffs and test its predictions on French data. Our results support the idea that, being strongly embedded in their social environment, CEOs find it more difficult to fire employees closer to their own workplace. This effect is stronger whenever social interactions are less anonymous in the CEOs' local environment. It is weaker when CEOs live further away from where they work, because of limited exposure to local discontent.
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Dates and versions

hal-04118212 , version 1 (06-06-2023)

Identifiers

  • HAL Id : hal-04118212 , version 1

Cite

Andrea Bassanini, Eve Caroli, Kevin Geay, Antoine Rebérioux. Heavy is the Crown: CEOs' Social Interactions and Layoff Decisions. 2023. ⟨hal-04118212⟩
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