Research: When CEOs Don’t Win Awards, They Make More Acquisitions

Each year major business media outlets rank CEOs based on their performance. The few who win awards and earn the highest ranking become superstar CEOs — they gain visibility and higher social recognition, and they may even earn higher compensation. Award-winning CEOs also tend to capitalize on their fame by assuming more board seats and writing books.

But for every happy award-winning CEO, there are many more CEOs who did not win. We wanted to know how these rankings affect CEOs who don’t get the top spot. If awards can influence the behaviors of CEOs who win, could they also influence the behaviors of their competitors who don’t?

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