Educated for Efficiency: Do Better-educated Managers Produce More for Less Energy?

Mario Daniele Amore, Morten Bennedsen, Birthe Larsen, Philip Rosenbaum

Research output: Contribution to conferencePaperResearchpeer-review

Abstract

We study the effect of CEO education on a firm’s energy efficiency. Using a unique dataset of Danish firms, we document that firms led by more educated CEOs exhibit greater energy efficiency. We establish causality by employing exogenous CEO hospitalization episodes: the hospitalization of highly-educated CEOs induces a drop in a firm’s energy efficiency, whereas the hospitalization of low-education CEOs does not have any significant effect.
Disentangling the effect of educational length from that of the field of study, we find that the greater energy efficiency is mostly driven by the cumulated years of CEO education rather than by having obtained business or technical-related degrees.
Original languageEnglish
Publication date2017
Number of pages37
Publication statusPublished - 2017
EventThe 32nd Annual Congress of the European Economic Association (EEA) - The 70th European Meeting of the Econometric Society (ESEM) - Lissabon, Portugal
Duration: 21 Aug 201725 Aug 2017
Conference number: 32

Conference

ConferenceThe 32nd Annual Congress of the European Economic Association (EEA) - The 70th European Meeting of the Econometric Society (ESEM)
Number32
CountryPortugal
CityLissabon
Period21/08/201725/08/2017

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Amore, M. D., Bennedsen, M., Larsen, B., & Rosenbaum, P. (2017). Educated for Efficiency: Do Better-educated Managers Produce More for Less Energy?. Paper presented at The 32nd Annual Congress of the European Economic Association (EEA) - The 70th European Meeting of the Econometric Society (ESEM) , Lissabon, Portugal.