This paper shows that the time of year of a person's birth is an important factor in the likelihood they become a CEO, and conditional on becoming a CEO, on the performance of the firms they manage. Based on a sample of 321 CEOs of Samp;P 500 companies from 1992 to 2006 we find that (1) the...

This paper shows that the time of year of a person's birth is an important factor in the likelihood they become a CEO, and conditional on becoming a CEO, on the performance of the firms they manage. Based on a sample of 321 CEOs of Samp;P 500 companies from 1992 to 2006 we find that (1) the...

This paper finds that the number of CEOs born in June and July is disproportionately small relative to the number of CEOs born in other months. Our evidence is consistent with the “relative-age effect” due to school admissions grouping together children with age differences up to one year,...

"This paper examines the impact of government-sponsored venture capitalists (GVCs) on the success of enterprises. Using international enterprise-level data, we identify a surprising non-monotonicity in the effect of GVC on the likelihood of exit via initial public offerings (IPOs) or third party...