CEO-Firm Matches and Productivity in 42 Countries

Amanda Dahlstrand, Dávid László, Helena Schweiger, Oriana Bandiera, Andrea Prat and Raffaella Sadun

No 33324, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Firms are key to economic development, and CEOs are key to firm productivity. Are firms in countries at varying stages of development led by the right CEOs, and if not, why? We develop a parsimonious measure of CEO time use that allows us to differentiate CEOs into “leaders” and “managers” in a survey of 4,800 manufacturing firms across 42 countries, with income per capita ranging from USD 4,000 to 45,000. We find that poorer countries have fewer leaders and relate this to training opportunities. Even when suitable leaders are available, they often do not lead the firms that would benefit the most, resulting in mismatches that can cause up to a 20% loss in productivity for the mismatched firms. The findings imply that policies that address the causes of mismatch could significantly enhance growth without additional resources.

JEL-codes: J24 M12 O47 (search for similar items in EconPapers)
Date: 2025-01
New Economics Papers: this item is included in nep-eff and nep-lma
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