Seasoned Leadership and Corporate Success The Role of CEO Age in Accounting and Market Returns

Author : Gobinda Gopal Pahari

Abstract :This study investigates the relationship between CEO age and firm performance using a panel of 17,948 f irm-year observations from 1,729 non-financial, non-governmental firms listed on the NSE from 2009 to 2023. Firm performance is examined across two dimensions: accounting-based (ROA) and market based (stock returns) measures. The results reveal a consistent and statistically significant positive association between CEO age and both performance outcomes, suggesting that older CEOs contribute to improved profitability and investor confidence. These findings challenge the conventional inverted U-shaped narrative and highlight the value of experienced leadership, particularly in emerging market contexts like India.

Keywords :CEO age, ROA, RET, India.

Conference Name :Finance, Business & Banking Symposium(FBBS-25)

Conference Place Asansol, India

Conference Date 12th Jul 2025