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A soldier salutes Veterans at the conclusion of a remembrance day ceremony at the cenotaph in the All Sappers' Memorial Park in Chilliwack November 11, 2013.
A soldier salutes Veterans at the conclusion of a remembrance day ceremony at the cenotaph in the All Sappers' Memorial Park in Chilliwack November 11, 2013.
(John Lehmann/The Globe and Mail)

Why former soldiers make great CEOs

Move over MBAs, here come the marines. A fascinating new working paper from the National Bureau of Economic Research looks at the performance of chief executives with military experience – and they come away looking very good.

After executives exchange their combat uniforms for suits and foxholes for corner offices, they tend to run companies remarkably different from executives with other backgrounds, including MBAs: They tend to be more conservative, perform better under pressure and are less likely to pursue fraudulent activity – a good combination for investors who prefer solid investments over flashy, high-risk ones.