In this paper the educational background of the Chief Executive Officers (CEOs) of Large U.S. Firms are examined. Specifically, the educational background of CEOs from large U.S. firms, as identified in the Forbes 800 Compensation List, are examined. Information concerning the number of Chief Executive Officers that received their undergraduate and graduate degrees from 463 institutes of higher education are compiled. We find that most CEOs have an undergraduate degree, while about half possess a graduate degree. The results indicate that there are preferred educational backgrounds for selection as the CEO of a major corporation. We also examine how the educational background of the CEO is related to the CEOs total compensation. The evidence indicates that those CEOs that do not have a degree earn significantly more than those CEOs that do have a college degree. We find little evidence that the school attended affects the compensation that the CEO receives. Finally, we examine firm ROA and Tobins Q based on the educational background of the CEO. We find an association between possession of a degree as well as where the degree was earned and the ROA and Tobins Q of the firm.

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="color: black; mso-themecolor: text1;"><span style="font-size: x-small;"><span style="font-family: Times New Roman;">This paper examines the educational background of Chief Executive Officers (CEOs) from large U.S. firms. Forbes CEO compensation lists and Compustat data covering 500 or more firms annually are utilized in the analysis for the period 1997-2006.<span style="mso-spacerun: yes;">&nbsp; </span>Universities are ranked based on the number of graduates placed in top CEO positions and of the total compensation their graduates earn as CEO.<span style="mso-spacerun: yes;">&nbsp; </span>Results show a select group of schools educate a large proportion of top CEOs.<span style="mso-spacerun: yes;">&nbsp; </span>Harvard dominates the CEO market at all educational levels.<span style="mso-spacerun: yes;">&nbsp; </span>Results show low correlation between university placement rankings and compensation rankings.<span style="mso-spacerun: yes;">&nbsp; </span>Regressions on CEO compensation provide additional insights into CEO compensation determinants. Regressions of CEO educational variables on firm performance measures identify links between CEO education and firm performance.<span style="mso-spacerun: yes;">&nbsp; </span>This is the first known paper to examine CEO gender as a determinant of compensation and firm performance.<span style="mso-spacerun: yes;">&nbsp; </span>The evidence here provides hiring and compensation committees valuable information on appropriate hiring, retention and compensation strategies.<span style="mso-spacerun: yes;">&nbsp; </span>It also provides government officials additional insights for designing appropriate regulations.</span></span></span></p>

In recent years, the number of female Chief Executive Officers (CEOs) at large firms has increased to the point that it is possible to statistically compare the performance and management characteristics of firms managed by CEOs of different genders. This paper is an exploratory study that examines the relationship between CEO gender and the performance and management of publicly traded firms. We use a large dataset of annual Forbes CEO data, combined with Compustat data, covering the time period of 1997 to 2006. Our results show that CEO gender is related to a number of factors including inside ownership and return on assets.

In this exploratory research, and driven by intense interest in media focused

Students frequently experience difficulty in identifying the