Paper title: CEO Age and Corporate Investment Decisions in Bangladesh
Abstract: In this study, the first of its kind in Bangladesh, we investigate whether CEO age influences the investment decisions of Bangladeshi firms. Using a manually collected panel dataset of 119 non-financial companies listed in Dhaka Stock Exchange during 2009-2021, we employ Feasible Generalized Least Square (FGLS) regression model and find that there is a significant positive association between CEO age and corporate investment. Furthermore, we find that older CEOs invest more than younger CEOs. Finally, we find that the positive effect of CEO age on corporate investment is more pronounced for the firms with higher managerial ownership, leverage and firm age. These findings have important policy implications for various stakeholders (e.g., shareholders, board of directors and regulators) of firms in Bangladesh. Keywords: Chief Executive Officer, CEO, CEO Age, Investment, Capital Expenditure, Bangladesh. DOI: https://www.doi.org/10.61607/JFB.V21N1-2.A2 Article Info: Submission Date: November 14, 2023; Acceptance Date: June 04, 2024.
