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The main objective of this article consists in determining the impact of the management power and the manager’s personal characteristics on the performance of the highly-rated enterprises. This paper examines two approaches. The first one specifies the leader’s power by referring to the management characteristics as a group of personal sociological and professional aspects. The second one is concerned with the effect of these characteristics on the companies’ performance. In order to test the validity of the theoretical hypotheses, the empirical study is based on a sample of 32 Tunisian highlyrated enterprises during the period 2000-2005. The results have shown that the leader’s power, made up of indicating variables, plays an important role on the stock exchange and accounting performance. This fact leads us to conclude that all management characteristics contribute to the reinforcement of this power and to its effects on the enterprises’ performance.

Impact of managerial power and the personal characteristics of CEO on the performance: case of the Tunisian companies