Glassdoor: Are the Top CEOs Representing the Best Investments

Research output: Contribution to journalArticlepeer-review


In 2013, Glassdoor launched the Employees' Choice Awards for the Top CEOs. Glassdoor's awards are unique in that feedback from employees exclusively determines the winners. Given Glassdoor's notoriety, claiming 64 million unique visitors and 11 million job listings monthly, being listed as a Top CEO certainly has reputational value - but does it translate to higher shareholder returns? We find that the overall Top CEO sample statistically outperforms a matched sample and the S&P 500 index on a raw and risk-adjusted basis with superior Tobin's Q and annual returns one year after the announcement.

Original languageEnglish (US)
Article number2250009
JournalQuarterly Journal of Finance
Issue number3
StatePublished - Sep 1 2022

All Science Journal Classification (ASJC) codes

  • Finance
  • Economics and Econometrics
  • Strategy and Management


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