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Pilot CEOs and Corporate Cash Holdings

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dc.contributor.authorChen, Lilien
dc.contributor.authorLi, Lingweien
dc.contributor.authorWee, Marvinen
dc.date.accessioned2025-05-23T07:27:20Z
dc.date.available2025-05-23T07:27:20Z
dc.date.issued2025en
dc.description.abstractThis study examines the effect of a personality trait exhibited by pilot chief executive officers (CEOs), that is, situation awareness, on corporate cash policies. Our results show that firms led by pilot CEOs are more likely to hold higher levels of cash for firms with higher growth opportunities and greater firm risks. The findings suggest that pilot CEOs have greater situation awareness and are more likely to plan ahead to cope with future liquidity needs. We also find that the strength of their situation awareness is associated with pilot certification levels but does not change between the pre- and post-certification periods.en
dc.description.sponsorshipOpen access publishing facilitated by Australian National Uni-versity, as part of the Wiley ‐ Australian National University agreementvia the Council of Australian University Librariansen
dc.description.statusPeer-revieweden
dc.format.extent28en
dc.identifier.issn1354-7798en
dc.identifier.scopus85217978872en
dc.identifier.urihttp://www.scopus.com/inward/record.url?scp=85217978872&partnerID=8YFLogxKen
dc.identifier.urihttps://hdl.handle.net/1885/733751758
dc.language.isoenen
dc.provenanceThis is an open access article under the terms of the Creative Commons Attribution‐NonCommercial‐NoDerivs License, which permits use and distribution in any medium, provided the original work is properly cited, the use is non‐commercial and no modifications or adaptations are made.en
dc.rights© 2025 The Author(s). en
dc.sourceEuropean Financial Managementen
dc.subjectcash holdingsen
dc.subjectCEOsen
dc.subjectcorporate policiesen
dc.subjectmanagerial stylesen
dc.subjectsituation awarenessen
dc.titlePilot CEOs and Corporate Cash Holdingsen
dc.typeJournal articleen
dspace.entity.typePublicationen
local.bibliographicCitation.lastpage1560en
local.bibliographicCitation.startpage1269en
local.contributor.affiliationChen, Lili; Australian National Universityen
local.contributor.affiliationLi, Lingwei; Research School of Accounting, ANU College of Business & Economics, The Australian National Universityen
local.contributor.affiliationWee, Marvin; Research School of Accounting, ANU College of Business & Economics, The Australian National Universityen
local.identifier.citationvolume31en
local.identifier.doi10.1111/eufm.12545en
local.identifier.puredd92ba3f-9ccc-4fbc-87d6-3154246d027den
local.identifier.urlhttps://www.scopus.com/pages/publications/85217978872en
local.type.statusAccepted/In pressen

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