Author Abstract
Based on two samples of high quality personality data for chief executive officers (CEOs), we use linguistic features extracted from conference calls and statistical learning techniques to develop a measure of CEO personality in terms of the Big Five traits: agreeableness, conscientiousness, extraversion, neuroticism, and openness to experience. These personality measures have strong out-of-sample predictive performance and are stable over time. Our measures of the Big Five personality traits are associated with financing choices, investment choices, and firm operating performance.
Paper Information
- Full Working Paper Text
- Working Paper Publication Date: July 2016
- HBS Working Paper Number: NBER Working Paper Series, No. 22435
- Faculty Unit(s): Accounting and Management