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April 11, 2007

All Business: Big home for CEO may mean firm's stock suffers

  • A new study by two finance professors suggests a super-sized home purchase shows entrenchment.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Investors looking for stock-picking tips might find the answer right at home — not their own, but where CEOs live.

    A new study makes the case that there is a strong correlation between executives' home buying behavior and stock performance. The bigger the CEO home, the worse the company's stock fares, according to two academic researchers. They also found that companies with CEOs living in more modest abodes often see their shares outperform.


     
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