Ep29 “How Do You Become CEO?” with Dirk Jenter
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- Опубліковано 2 жов 2024
- A lot has been written and said about CEOs and their compensation, but who are they really and how did they get there? According to the data, what are the most likely paths to become one? In this episode of All Else Equal: Making Better Decisions, hosts and finance professors Jonathan Berk and Jules van Binsbergen are joined by Dirk Jenter, Professor of Finance at the London School of Economics, for a fascinating discussion of CEOs, including the surprising truths about who rises to the rank of CEO and from where, as well as exploring the issue of CEO pay, and how it could be justified.
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"Most of our listeners are senior executives."
Me, a warehouse manager: "uhhh, yeah..."
It seems like the reason for hiring CEO internally makes a lot of sense from the people and network perspective, why not do the same for managers, directors, and head of department as well since these positions also require similar skill sets?
This is the best I have heard or read about pursuing a career as a CEO.
I agree. Awesome insights.
I love the topic! I would argue that there are more than Fortune 500 companies in the United States, and focusing on them makes the discussion very bias in favor of companies that elready conquered market. Being CEO of such a company - as proven in discussion is goal once you are 58.
My question, therefore is the Nasdaq traded companies...mid tier.. how does it look there?
I’ll be charitable and say that Dirk is merely suffering under deep misapprehension rather than accuse him of being a corporate establishment propagandist.
His answer to “why CEOs matter” is a tautology. He first said that companies change when the CEO changes, and that proves they matter. This is a tautology because companies are *designed* to run at the direction of a CEO. This is the equivalent of saying legs matter because if you break your legs you can’t go for a jog.
This is not meaningful information. The question is: why do you need to jog at all? In other words, can companies be designed to run without a CEO? Is the CEO role truly indispensable? The answer should be obvious but if you have any doubt then I would ask simply whether the monarchy still reigns as the predominant form of state governance.
It’s irresponsible to call oneself an academic, cite evidence from research, and come to such comically establishment friendly conclusions on the basis of a smuggled premise.
Unfortunately there’s been experiments of CEO-less companies and none are in the Fortune 500.
Monarchy was done away with because the people believed this wasn’t efficient and sought self-governance. Turns out they were right. Countries without Kings performed better.
A CEO is more akin to a President than a King because the CEO’s words aren’t absolute. They have to answer to a board most of the time
Thanks Chris. This is an excellent point. If expanded, this could be a valid criticism of much of academia. I would posit that a solid review of Dirk's work, and funding streams, might move this argument along nicely.
Whether it is a family, or a business, or even a state, the country cannot do without the existence of a leader, who controls the development direction of this place. Only under the correct leadership, more people will know which direction to go. , the group cannot unite without a leader, they need a voice to tell them what to do.
I really love that the moderators didn’t interrupt Dirk’s flow.
The discourse is interesting
They choose you not you choose.
They hire people who are in their circle and rarely hire a random Joe.
Herbert from Ghana 🇬🇭! Thanks for this episode!
This changed my perspective towards CEOs, life is not always a bed of roses... you gotta deal with the thorns too.
Start a company. You're a CEO. Lol 😂
Na, need a board to elect you. That's a founder, owner.
5:22 25% of companies show upward movement after CEO death..meaning people saw them as more valuable after the CEO passed away..you went on and made sevrral deductions based on this.. you completely forgot thats "JUST 20-25% OF THE TIME" what about the rest..
Start with being a white male?
Appreciation from Tanzania....thank you
I don't want to die😂
excellent insights, thank you
They promote their own. The end.
Me Im an English tutor not a CEO
Most felt like bull
Very interesting/ Thanks
Really good talk so far, 6:14, could it be that the CEO left the company in a great position? After passing. Does that data support that the trend was low at his availability and after he left it trended up.⬆️
He just made deductions based on 20-25% of the time share values go down.. doesn't that mean 75-80% of time shares go up or remain unaffected.. 🤷🏻♂️
Got it
Digit came to be eventful its finest edge.
A Macdonald in my city can make Americans earn money and give jobs to people in my city.😅
Un Macdonald nella mia città può far guadagnare qualcosa agli americani ed dare lavoro alle persone della mia città.😅
Un Macdonald dans ma ville peut faire gagner de l’argent aux Américains et donner des emplois aux gens de ma ville.😅
Insightful
Really learnt from this.
❤
Thank you Sir 🙏
Hello, how are you?❤
1:52
Thank you!
One should not offer their political opinions about what the CEO makeup should be…just tell us what the data shows. Keep your liberal nonsense to yourself.
CEO does matter, this is so obvious.. you don't need to explain...
Wast of this listening this