Sheng‐Syan Chen, Ching‐Yu Hsu, Chia‐Wei Huang
ABSTRACT This study demonstrates how winning prestigious CEO awards generates significant value by enhancing stakeholder trust. We find that award‐winning CEOs substantially strengthen relationships with key stakeholders: employees, suppliers, customers, and strategic partners, resulting in improved corporate performance. This positive effect is particularly pronounced in high‐trust regions and firms with complex managerial environments, suggesting that superstar CEOs effectively leverage their elevated status to build valuable stakeholder relationships. Through robust empirical analyses, we demonstrate that CEO awards cultivate stakeholder trust. Furthermore, firms where these awards translate into stronger stakeholder ties achieve meaningful gains in corporate performance, moderating the post‐award underperformance.