Which CEO Characteristics and Abilities Matter?
Steven N. Kaplan
University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER)
Mark M. Klebanov
University of Chicago - Graduate School of Business (GSB)
Columbia Business School; National Bureau of Economic Research (NBER); Swedish Institute for Financial Research (SIFR)
July 1, 2008
Swedish Institute for Financial Research Conference on the Economics of the Private Equity Market
AFA 2008 New Orleans Meetings Paper
We exploit a unique data set to study individual characteristics of CEO candidates for companies involved in buyout and venture capital transactions and relate these characteristics to subsequent corporate performance. CEO candidates vary along two primary dimensions: one that captures general ability and another that contrasts communication and interpersonal skills with execution skills. We find that subsequent performance is positively related to general ability and execution skills. The findings expand our view of CEO characteristics and types relative to previous studies.
Number of Pages in PDF File: 49
Keywords: CEO characteristics, private equityworking papers series
Date posted: March 20, 2007 ; Last revised: August 29, 2011
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