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Why Do Leaders Matter? The Role of Expert Knowledge
Amanda Goodall Warwick Business School Lawrence M. Kahn Cornell University - School of Industrial and Labor Relations; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Institute for the Study of Labor (IZA) Andrew J. Oswald University of Warwick - Department of Economics; Institute for the Study of Labor (IZA) IZA Discussion Paper No. 3583 Abstract: Why do some leaders succeed while others fail? This question is important, but its complexity makes it hard to study systematically. We examine an industry in which there are well-defined objectives, small teams, and exact measures of leaders' characteristics. We show that a strong predictor of a leader's success in year T is that person's own level of attainment, in the underlying activity, in approximately year T-20. Our data come from 15,000 professional basketball games. The effect on team performance of the coach's 'expert knowledge' is large and is discernible in the data within 12 months of his being hired.
Keywords: organizational performance, firms, leadership, fixed-effects, productivity JEL Classifications: J24, M51 Working Paper SeriesDate posted: July 14, 2008 ; Last revised: July 14, 2008Suggested CitationContact Information
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