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CEO-Firm Matches and Productivity in 42 Countries

Author

Listed:
  • Amanda Dahlstrand
  • Dávid László
  • Helena Schweiger
  • Oriana Bandiera
  • Andrea Prat
  • Raffaella Sadun

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.

Suggested Citation

  • Amanda Dahlstrand & Dávid László & Helena Schweiger & Oriana Bandiera & Andrea Prat & Raffaella Sadun, 2025. "CEO-Firm Matches and Productivity in 42 Countries," NBER Working Papers 33324, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:33324
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    More about this item

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence

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