Educational credentials and career success of CEOs of Latin American firms

Résumé

This study investigates the influence of education (highest degree acquired, major field of study and awarding institutions) on the time taken by Chief Executive Officers (CEOs) to reach that position. For this purpose, we considered 169 CEOs of Latin American firms and employed multiple hierarchical regressions. The results do not support the influence of a high educational level on the time that took CEOs to be appointed to the position ('time to the top'). Furthermore, in family firms, it delays the appointment to the CEO role. Elite institutions do not exert an influence on 'time to the top'. Our findings offer partial support to the human capital theory education variable in Latin America, highlighting the importance of cultural, socio-economic and institutional factors.