CEO CHARACTERISTICS - DOES INDUSTRY MATTER

This study examined the relationships between a comprehensive set of i ndustry conditions and CEO characteristics utilizing data from a broad range of U.S. manufacturing industries. Pooled cross-sectional time s eries analyses indicated that industry conditions played a limited rol e in explaining variations in CEO firm tenure, educational level, func tional background, and functional heterogeneity. Results of subgroup r egression analyses indicated that although high performers appeared to align the studied CEO characteristics more closely to industry condit ions than low performers, differences between the industry coefficient s in the two groups are generally small.