CEO talent: A dime a dozen, or worth its weight in gold?

Very little sophisticated research exists on the size, quality, and efficiency of the labor market for CEO talent. This paper sheds light on this labor market by considering the perspectives of directors directly responsible for hiring and firing the CEOs of the largest publicly traded corporations...

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Veröffentlicht in:	European financial management : the journal of the European Financial Management Association 2018-06, Vol.24 (3), p.301-308
Hauptverfasser:	Donatiello, Nicholas E., Larcker, David F., Tayan, Brian
Format:	Artikel
Sprache:	eng
Schlagworte:	Ability board of directors CEO labor market CEO recruitment CEO succession planning Chief executives corporate governance Dismissal Experts Governance Hiring internal talent development Labor market
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Beschreibung
Zusammenfassung:	Very little sophisticated research exists on the size, quality, and efficiency of the labor market for CEO talent. This paper sheds light on this labor market by considering the perspectives of directors directly responsible for hiring and firing the CEOs of the largest publicly traded corporations in the United States. We find that directors overwhelmingly believe that the CEO job is exceptionally challenging and only a handful of executives are qualified to run their company and others in their industry. This suggests that the labor market for outstanding CEO talent is significantly tighter and more competitive than governance experts might realize.
ISSN:	1354-7798 1468-036X
DOI:	10.1111/eufm.12158