https://www.institutionalinvestor.com/article/b1d…
Really fascinating article in II discussing the lack of correlation between CEO personal characteristics (i.e. MBA or not, Elite MBA vs non-Elite MBA, background in Banking/Consulting) and share price performance. Additionally, shows that performance is not persistent (i.e. success at one company does not predict success at another).
I'm not really surprised about the lack of correlation with personal characteristics (good CEO's can come from anywhere) but the lack of persistence in performance is interesting. Anybody else surprised by these results? Should data like this have implications on management incentive structure.....
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