Koubaras Ltd study examines CEO visibility and cost of capital

A study by consultancy firm Koubaras Ltd, analyzing 115 companies from the Athens Stock Exchange and the Alternative Market for the 2025-2026 period, suggests that CEO visibility does not inherently reduce a listed company's cost of capital.

The research, which covers approximately 86% of the total Greek market capitalization (representing €150 billion of a €174 billion market), found that profitability, return on equity (ROE), and valuation metrics have a much stronger correlation with the cost of capital than a CEO's public profile or social media presence.

Key findings indicate that company size largely explains CEO visibility, as larger firms tend to have more prominent leaders. Furthermore, the study concluded that personal reputation does not necessarily equate to a reduction in investment risk.