This paper considers discrimination in the market for managerial positions by following the career paths of film directors. Film directors manage multi-million projects and are hired on a project by project basis. We gather data on directors’ film projects from the time they enter the...

This paper presents strong evidence that existing studies overestimate the impact of CEOs on the performance of the firms they lead. Ours is a comprehensive study of more than 3,692 CEOs in 2,103 firms in 22 countries, and for the period 1991-2019. Our objective is to assess the direct impact of...