%0 Journal Article
%T Barron's Survey: The World's Best CEOs
%A Greg Filbeck
%A Raymond Gorman
%A Xin Zhao
%J Accounting and Finance Research
%D 2012
%I 
%R 10.5430/afr.v1n1p18
%X We examine the abnormal returns around the publication dates of the Barron World¡¯s Best CEOs issues along with longer-term, risk-adjusted performance. One specific focus of the paper is whether the inclusion in the Barron¡¯s survey leads to an increase in positive ¡°affect¡± of the firms as suggested by Statman, Fisher, and Anginer (2008) in the case of Fortune¡¯s most admired firms. In addition, we explore the effect of the listing on the compensation of CEOs included in the ranking. We find a negative share price response to the release of Barron¡¯s list. The Best CEOs portfolio return is indistinguishable from the S & P 500 on a longer-term basis, and it underperformed against constructed matched samples, with no differences in risk adjusted returns. Profitability did not increase for selected firms in the post-announcement period and no patterns exist in terms of changes in CEO compensation are associated with the CEO¡¯s inclusion in Barron¡¯s list.
%U http://www.sciedu.ca/journal/index.php/afr/article/view/1077