Three Danish finance professors recently conducted a study that looked at whether major changes in a CEO’s life had an effect on company performance.
Here are some interesting findings from the study:
On average profitability slid by about one-fifth, in the two years after the death of a CEO’s child.
On average profitability slid by about 15% after the death of a spouse.
The death of a CEO’s mother-in-law led to a slight rise in company profitability.
The study also revealed that the larger a CEO’s house, the worse the company usually performed.
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