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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 navigate the challenges of the COVID-19 pandemic? Did they prioritize shareholders by maintaining dividends, or did they focus on protecting jobs? In a recent study conducted with my co-authors Ali Bayat, Panagiotis Koutroumpis and Xingjie Wei, we find that the answer to this question depends on a CEO's political orientation.

The study was published in the Journal of Corporate Finance where it is available for free via open access.

A brief podcast discussing the study is available below.

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