The study, titled “The Role of CEO Accounts and Perceived Integrity in Analysts’ Forecasts,” conducted an analysis of data derived from 35,000 CEO conference calls with investors.
The data shows that when a company performed poorly and the CEO took responsibility, analysts' forecasts were notably higher compared to instances where the CEO attributed the poor performance to external factors. “Again we found that CEO accounts didn’t matter a whole lot when the company performed favourably,” UBC professor Daniel Skarlicki said in a press release.
Skarlicki brings an example of Microsoft CEO Satya Nadella. In 2014, Microsoft acquired Nokia's mobile phone division for over $7 billion in an effort to compete with Apple and Google, which ultimately turned out to be a failure. Nevertheless, when faced with this challenge, Nadella took prompt responsibility and initiated a significant restructuring, focusing on cloud computing and productivity software. This strategic move led to a significant increase in Microsoft's stock price.
A Junior C hockey player says he is lucky to be alive after his neck was sliced open by a hockey skate last week in an act his parents believe – and the referee ruled – was an intentional kick.Polls are closed and results are coming in what will be a historic election for the province. The Progressive Conservatives' Heather Stefanson is looking to become the first woman elected premier, while the NDP's Wab Kinew is looking to become the province's first First Nation premier.
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