FORE! An Analysis of CEO Shirking

Social Science Research Network ^ | August 2014 | Lee Biggerstaff, David C. Cicero, Andy Puckett

[reaganaut1]

Abstract: Using CEO golf play as a measure of leisure, we document that there is significant variation in the amount of leisure that CEOs consume. We find that they consume more leisure when they have lower equity-based incentives. CEOs that golf frequently (i.e., those in the top quartile of golf play, who play at least 22 rounds per year) are associated with firms that have lower operating performance and firm values. Numerous tests accounting for the possible endogenous nature of these relations support a conclusion that CEO shirking causes lower firm performance. We find that boards are more likely to replace CEOs who shirk, but CEOs with longer tenures or weaker governance environments appear to avoid disciplinary consequences.

[reaganaut1]

We have a shirking president, but a shirking socialist may be better than a hard-working one.

[Gaffer]

That whole study could have been a treatise on the shirking of this President. No other examples needed.

[mikrofon]

[blueunicorn6]

Obama begged us twice for his job. He gets the job.....twice, but he can’t do it. Our selection process is broke.
There’s an old saying in the business world that “Idiots hire idiots”. We have the proof that Obama is an idiot, so that means the people who voted for him were idiots. That doesn’t mean that they have to spend the rest of their lives as idiots, though.
Anybody can talk a good fight. Look to see if they have actually fought a good fight. Just because someone asks for a job doesn’t mean you should give them the job. Everybody gets a turn at kicking the ball in a grade school kickball game but that doesn’t mean everybody gets a turn at being President of The United States.
Robin Hood took from the rich and gave to the poor. He also lived in a tree in the forest. I’ll believe the Democrats are Robin Hood when Nancy Pelosi is living in a tree in the forest and eating raw squirrel.