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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)

Morten Sorensen


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

Abstract:     
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 equity

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Date posted: March 20, 2007 ; Last revised: August 29, 2011

Suggested Citation

Kaplan, Steven N., Klebanov, Mark M. and Sorensen, Morten, Which CEO Characteristics and Abilities Matter? (July 1, 2008). Swedish Institute for Financial Research Conference on the Economics of the Private Equity Market; AFA 2008 New Orleans Meetings Paper. Available at SSRN: http://ssrn.com/abstract=972446 or http://dx.doi.org/10.2139/ssrn.972446

Contact Information

Steven Neil Kaplan (Contact Author)
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-702-4513 (Phone)
773-702-0458 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Mark M. Klebanov
University of Chicago - Graduate School of Business (GSB) ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
Morten Sorensen
Columbia Business School ( email )
3022 Broadway
New York, NY 10027
United States

National Bureau of Economic Research (NBER) ( email )
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
Swedish Institute for Financial Research (SIFR)
Drottninggatan 89
SE-113 59 Stockholm, SE-113 60
Sweden
Feedback to SSRN (Beta)


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