... enable firms to benefit more/less from their CSR investments depending on the presence/absence of appropriate governance devices. While CEO ability may be seen as an indicator of how well the CEO might serve the firm in the market-domain strategies, the results suggest that this may not be the case...

... lower transaction costs and slower capital structure adjustment to target levels since they are less likely to experience reduced firm value (Choo et al., 2021). Earlier evidence also investigates the role of CEO ability on tax avoidance (Higgins et al., 2015) and investment decisions...