Premium
Which CEO Characteristics and Abilities Matter?
Author(s) -
KAPLAN STEVEN N.,
KLEBANOV MARK M.,
SORENSEN MORTEN
Publication year - 2012
Publication title -
the journal of finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 18.151
H-Index - 299
eISSN - 1540-6261
pISSN - 0022-1082
DOI - 10.1111/j.1540-6261.2012.01739.x
Subject(s) - exploit , set (abstract data type) , interpersonal communication , business , venture capital , accounting , psychology , knowledge management , computer science , social psychology , finance , computer security , programming language
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.