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- W2149882022 abstract "This paper finds that the number of summer-born CEOs is disproportionately small, and firms with summer-born CEOs have higher market valuation. Furthermore, an investment strategy that bought firms with summer-born CEOs and sold firms with CEOs born in other seasons would have earned an abnormal annual return of 3.24 percent. Our evidence is consistent with the “relative-age effect” due to school admissions grouping together children with age differences up to one year, with summer-born children disadvantaged throughout life by being younger than non-summer-born classmates. Younger children who nevertheless succeed have to be particularly capable, which, manifests in enhanced corporate valuation." @default.
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- W2149882022 date "2009-01-01" @default.
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- W2149882022 title "Born Leaders: The Relative-Age Effect and Managerial Success" @default.
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- W2149882022 doi "https://doi.org/10.2139/ssrn.1365006" @default.
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