[nicoburns]

I'd argue that the value of the company often doesn't reflect whether they're doing a good job. Which is why you often find CEOs taking short-termist approach which buoys the value of the company in the short term and completely destroys it in the long term.

[bumby]

There's a famous study that concluded "CEO effects" only account for about 14.5% of performance [1]. It may be quite dated by today, though, it may be even less pronounced according to [2] that claims more recent studies show the CEO only explains for 4.5%-12.8% of performance.[2]

[1] https://www.jstor.org/stable/2094020?seq=1

[2] https://www.theatlantic.com/magazine/archive/2009/06/do-ceos...

[phamilton]

In 2020 the value of the company largely was driven by the Fed.