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 thank Joshua Anderson, Jess Cornaggia, Robert Gibbons, Dirk Jenter, Leonid Kogan, Camelia Kuhnen, Masatoshi Kurusu, Evgeny Lyandres, Randall Morck, Sendhil Mullainathan, Dimitris Papanikolaou, Morten Sorensen, and seminar participants at the MIT Organizational Economics Lunch, the NBER Corporate Finance Meeting, the IZA/Sloan Leadership Workshop, the 2012 Western Finance Association Annual Meeting, and the 2012 American Accounting Association Annual Meeting for helpful comments. We acknowledge financial support from the MIT Sloan School of Management. Luo Zuo is also grateful for financial support from the Deloitte Foundation. Sharon Bureau, Selva Swetha Ayyampalayam Rajeswaran, 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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