NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Shaped by Booms and Busts: How the Economy Impacts CEO Careers and Management Styles

Antoinette Schoar, Luo Zuo

NBER Working Paper No. 17590
Issued in November 2011

---- Acknowledgements -----

We appreciate the helpful comments of Joshua Anderson, Philip Berger, Qi Chen, Jess Cornaggia, Sudipto Dasgupta, Mei Feng, Robert Gibbons, Dirk Jenter, Bin Ke, Leonid Kogan, Camelia Kuhnen, Masatoshi Kurusu, Jing Liu, Evgeny Lyandres, Mark Maffett, Randall Morck, Sendhil Mullainathan, Kasper Meisner Nielsen, Dimitris Papanikolaou, Morten Sorensen, T.J. Wong, Bernard Yeung, Weining Zhang, and seminar participants at the MIT Organizational Economics Lunch, the NBER Corporate Finance Meeting, the 2012 Western Finance Association Annual Meeting, the IZA Workshop on Economics of Leadership, the 2012 American Accounting Association Annual Meeting, the 2013 China International Conference in Finance, the 2013 MIT Asia Conference in Accounting, the Tsinghua International Corporate Governance Conference, and Cheung Kong Graduate School of Business. We acknowledge financial support from the MIT Sloan School of Management. Luo Zuo is also grateful for financial support from Cornell University and the Deloitte Foundation. Selva Swetha Ayyampalayam Rajeswaran, Sharon Bureau, Kate Gordon, Edan Krolewicz and Cynthia Wang provided outstanding research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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