What’s in an education? Implications of CEO education for bank performance

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What’s in an education? Implications of CEO education for bank performance. / King, Timothy; Srivastav, Abishek; Williams, Jonathan.

In: Journal of Corporate Finance, Vol. 37, No. April, 01.04.2016, p. 287-308.

Research output: Contribution to journalArticle

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King, T, Srivastav, A & Williams, J 2016, 'What’s in an education? Implications of CEO education for bank performance', Journal of Corporate Finance, vol. 37, no. April, pp. 287-308. https://doi.org/10.1016/j.jcorpfin.2016.01.003

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King, Timothy ; Srivastav, Abishek ; Williams, Jonathan. / What’s in an education? Implications of CEO education for bank performance. In: Journal of Corporate Finance. 2016 ; Vol. 37, No. April. pp. 287-308.

RIS

TY - JOUR

T1 - What’s in an education? Implications of CEO education for bank performance

AU - King, Timothy

AU - Srivastav, Abishek

AU - Williams, Jonathan

PY - 2016/4/1

Y1 - 2016/4/1

N2 - Exploiting a unique hand-built dataset, this paper finds that CEO educational attainment, both level and quality, matters for bank performance. We offer robust evidence that banks led by CEOs with MBAs outperform their peers. Such CEOs improve performance when compensation structures are geared towards greater risk-taking incentives, and when banks follow riskier or more innovative business models. Our findings suggest that management education delivers skills enabling CEOs to manage increasingly larger and complex banking firms and achieve successful performance outcomes.

AB - Exploiting a unique hand-built dataset, this paper finds that CEO educational attainment, both level and quality, matters for bank performance. We offer robust evidence that banks led by CEOs with MBAs outperform their peers. Such CEOs improve performance when compensation structures are geared towards greater risk-taking incentives, and when banks follow riskier or more innovative business models. Our findings suggest that management education delivers skills enabling CEOs to manage increasingly larger and complex banking firms and achieve successful performance outcomes.

KW - CEO education

KW - CEO compensation

KW - Banks

KW - Bank performance

U2 - 10.1016/j.jcorpfin.2016.01.003

DO - 10.1016/j.jcorpfin.2016.01.003

M3 - Article

VL - 37

SP - 287

EP - 308

JO - Journal of Corporate Finance

JF - Journal of Corporate Finance

SN - 0929-1199

IS - April

ER -