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The Impact of CEO Political Ideology on Labour Cost Reductions and Payout Decisions During the COVID-19 Pandemic

How did CEOs of S&P500 firms react to the COVID-19 pandemic? Did they prioritize shareholders by meeting dividend expectations or did they secure jobs? In a study, I conducted with Ali Bayat, Panagiotis Koutroumpis and Xingjie Wei, we find that the answer to this question depends on the CEOs' political orientation. The study is forthcoming in the Journal of Corporate Finance where is available for free via open access.

A brief podcast summarising the study is available below.

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