Seneca, the Roman stoic philosopher, wrote that “luck does not exist.” Modern managerial studies take the liberty of disagreeing. Luck exists in the form of events that are beyond the control of CEOs and firms alike. Movements in oil prices and the business cycle (e.g., variations in GDP growth, and employment rate) that boost the market value of firms are a couple of examples.
Click here for original story, Study finds that choosing a lucky CEO means bad luck for the hiring company
Source: Phys.org