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"Value Based Leadership"

Event details of CIFRA UvA Finance Seminars: Morten Bennedsen (INSEAD)
Date 9 September 2021
Time 13:00 -14:30


The strength of personal values and how these penetrate firm organization is measured through a survey of 1500 Danish CEOs. We construct a measure of value-based leadership and investigate the impact on firm outcomes and firm policies. First, value-based leadership is more common in family firms and with female leadership, but not correlated to leaders’ IQ nor to management practices. Second, value-based leadership is positively correlated to firm performance. Causal evidence is provided through the analysis of CEO changes and CEO hospitalizations. Third, value-based leaders build more resilient organizations in a pandemic crisis and generate less conflicts, lower employee turnover and have a flatter organizational structure in normal times. Taken together, leaders’ personal values and how they spread through organizations are important factors in explaining the value they bring to their firms.*

*Co-authored with Esther Chevrot-Bianco (University of Copenhagen) 

This seminar will be organised via Zoom. If you are interested in joining this seminar, please send an email to the secretariat of the Finance Group.