The study examines the role of a CEO in enhancing a firm's performance through the mediating effect of investment decisions in the emerging economy of Pakistan. Distinctly, fixed-effects panel regression method is employed to examine the said nexus of nonfinancial firms listed at the Pakistan Stock Exchange. It is empirically unearthed that CEO attributes, namely, age, tenure, ownership, financial education, and career experience, are positively related to firm performance in general and capital investment decisions in particular. Second, capital investment decisions partially and significantly mediate the nexus between CEO attributes and firm performance with few exceptions that confirm the theoretical implications of upper echelons theory in an emerging economy context.

中文翻译：

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CEO属性、投资决策和公司绩效：高层理论的新见解

该研究通过对巴基斯坦新兴经济体的投资决策的中介作用，考察了首席执行官在提高公司业绩方面的作用。不同的是，固定效应面板回归方法被用来检查在巴基斯坦证券交易所上市的非金融公司的上述关系。经验表明，CEO 属性，即年龄、任期、所有权、金融教育和职业经验，与公司业绩，特别是资本投资决策呈正相关。其次，资本投资决策部分且显着地调节了 CEO 属性与公司绩效之间的关系，只有少数例外证实了高层理论在新兴经济体背景下的理论含义。