February 17, 2006
Use of the Jet
A study by David Yermack at NYU's Stern School of Business found that the private use of the company jet is highly correlated to golf, particularly membership in the Augusta golf club. He also found that high use of the corporate jet in inversely correlated to a firm's stock market performance. The lesson for a board? Check how much time a CEO is spending on out of state golf courses.
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