When CEOs don't win awards, they make more acquisitions

Vantage point: Insights from cutting-edge research

Each year major business media outlets rank CEOs based on their performance. But for every happy award-winning CEO, there are many more CEOs who did not win. How do these rankings affect CEOs who don’t get the top spot? A study conducted by academics Wei Shi, Yan Anthea Zhang and Robert E Hoskisson, whose article has been published in Harvard Business Review, investigated this question. Looking at CEO awards granted by journals, they identified over 200 superstar CEOs of S&P 1500 firms in the US from 1996 to 2010. They then identified their competitors among S&P 1500 firms. They authors