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Do Lawyers Make Better CEOs Than MBAs?

Harvard Business Review

A nearly $150 million settlement is pending for the fake-account scandal that roiled the bank last year, and a new scandal has emerged: Recently it has been alleged that thousands of customers were signed up for insurance without their knowledge. We attempted to account for factors such as this in order to isolate the impact of a CEO with a law degree. We did not observe an obvious selection bias in which industries hired lawyer CEOs.