For best experience please turn on javascript and use a modern browser!
You are using a browser that is no longer supported by Microsoft. Please upgrade your browser. The site may not present itself correctly if you continue browsing.

"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.