Sports CEOs and Corporate Innovation

ABSTRACT Using a hand‐collected data set, we find that firms led by CEOs who were student‐athletes in college exhibit significantly superior innovation outcomes, as measured by patent numbers, citation counts, and the economic value of patents. Evidence from CEO turnover analysis supports a CEO imprinting interpretation. Additional analyses indicate that our results are primarily driven by CEOs who completed at the most competitive amateur levels, rather than those who participated recreationally. Our study contributes to the literature on CEO traits by demonstrating that participation in highly competitive sports during formative years can cultivate leadership qualities that translate into enhanced corporate innovation.