Abstract

http://ssrn.com/abstract=2436765
 


 



Are CEOs Born Leaders? Lessons from Traits of a Million Individuals


Renee B. Adams


University of New South Wales, Department of Banking and Finance; ECGI; FIRN; ABFER

Matti Keloharju


Aalto University - School of Business; Research Institute of Industrial Economics (IFN); Centre for Economic Policy Research (CEPR)

Samuli Knüpfer


BI Norwegian Business School; Centre for Economic Policy Research (CEPR); Research Institute of Industrial Economics (IFN)

September 1, 2016

IFN Working Paper No. 1024
FIRN Research Paper No. 2436765
Harvard Business School Research Paper No. 16-044
European Corporate Governance Institute (ECGI) - Finance Working Paper No. 478/2016

Abstract:     
What makes a CEO? Our study combines a near-exhaustive sample of CEOs of Swedish companies with data on their cognitive and non-cognitive ability and height at age 18. On average, CEOs, particularly large-company CEOs, have much higher trait values than the population and somewhat higher values than people in other high-skill professions. Yet, more than one hundred managers and executives in the corporate sector dominate each median large-company CEO. Only about one tenth of the pay premium large-firm CEOs enjoy over the population can be attributed to the labor market returns to the three traits.

Number of Pages in PDF File: 59

Keywords: CEO, cognitive ability, non-cognitive ability, height, compensation, firm size

JEL Classification: G30, J24, J31


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Date posted: May 15, 2014 ; Last revised: September 2, 2016

Suggested Citation

Adams, Renee B. and Keloharju, Matti and Knüpfer, Samuli, Are CEOs Born Leaders? Lessons from Traits of a Million Individuals (September 1, 2016). IFN Working Paper No. 1024; FIRN Research Paper No. 2436765; Harvard Business School Research Paper No. 16-044; European Corporate Governance Institute (ECGI) - Finance Working Paper No. 478/2016. Available at SSRN: http://ssrn.com/abstract=2436765

Contact Information

Renée B. Adams
University of New South Wales, Department of Banking and Finance ( email )
Sydney, NSW 2052
Australia
+61(2)93854280 (Phone)

ECGI
c/o ECARES ULB CP 114
B-1050 Brussels
Belgium
HOME PAGE: http://www.ecgi.org
FIRN
C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia
HOME PAGE: http://www.firn.org.au

ABFER
BIZ 2 Storey 4, 04-05
1 Business Link
Singapore, 117592
Singapore
Matti Keloharju
Aalto University - School of Business ( email )
P.O. Box 21210
AALTO, FI-00076
Finland
+358 40 353 8043 (Phone)
Research Institute of Industrial Economics (IFN) ( email )
Box 55665
Grevgatan 34, 2nd floor
Stockholm, SE-102 15
Sweden
Centre for Economic Policy Research (CEPR) ( email )
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Samuli Knüpfer (Contact Author)
BI Norwegian Business School ( email )
Nydalsveien 37
Oslo, 0442
Norway
HOME PAGE: http://www.samuliknupfer.com
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Research Institute of Industrial Economics (IFN)
Box 55665
Grevgatan 34, 2nd floor
Stockholm, SE-102 15
Sweden
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