During the worldwide financial crisis, Swiss CEOs who were golfers somehow found enough leisure time to improve their golf handicaps by 0.28 annually, according to an analysis from a team led by Constantin Schön of the University of Zurich of the golf handicaps of 440 top managers in Switzerland. Improving a handicap, a golfing-skill measure that ranges from 0–36, is difficult and time consuming and thus represents time away from the office. By contrast, executives who owned their businesses suffered an average annual handicap deterioration of 0.41 during the downturn, suggesting that owners were putting in more effort to deal with the crisis than CEOs were, the researchers say.
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