題目：Executive Extraversion: Career and Firm Outcomes（高管外向性格、職業(yè)發(fā)展與公司成長）

摘要：Psychology research identifies extraversion as the personality trait most closely associated with leadership emergence. We examine executive extraversion, as measured by speech patterns during conference calls, and find extraverts experience significant career benefits. Controlling for executive and firm characteristics, including firm fixed effects, we find that extraverted CEOs and CFOs earn 6–9 percent higher salaries. Moreover, extraverted CEOs are less likely to experience job turnover, have longer tenures, serve on more outside boards, and hold directorships at larger firms, and extraverted CFOs are more likely to be promoted to CEO. Executive extraversion is also linked with firm outcomes. Analyzing a sample of manager transitions, we find that increases in CEO extraversion are associated with improvements in investor recognition and sales growth. Further, extraverted CEOs are associated with higher acquisition announcement returns. Our findings highlight the role of personality traits in explaining executive career and firm outcomes.

研究問題：管理者外向性格對其職業(yè)發(fā)展，公司成長的影響

研究動機：高管對于公司發(fā)展重要性不言而喻，但是目前我們對董事會雇傭高管過程中看重的性格特質(zhì)卻知之甚少（relatively little is known about which traits are viewed as important to boards in their hiring of top executives.）

研究設(shè)計：雙向固定效應(yīng)（高管性格與職業(yè)發(fā)展）；高管變更場景（高管性格與公司成長）

研究貢獻：已有研究大多從高管習(xí)得性屬性（如教育背景，職業(yè)經(jīng)歷，社交網(wǎng)絡(luò)）等角度研究其對高管薪酬的影響，本文從高管心理特質(zhì)補充了高管薪酬決定因素的文獻。同時，還拓展了非認(rèn)知特征對高管職業(yè)成功相關(guān)研究。

特別的點：基于電話會議的Q&A文本，借用成熟算法度量高管的外向性格；對于遺漏變量偏誤的討論和處理；對于勞動力市場高管和公司匹配以及緣何使用高管變更情形的討論

注：個人翻譯和解讀，可能存在疏漏和錯誤,僅供參考(20220425)。