MBA Discount Factor?

Ever since I read Guy Kawasakis books his advice has served me well. Recently I had a discussion on the value of MBAs in executive positions. Kawasaki advises to avoid such people and some firms place MBA graduates strictly in process/sales roles (i.e. Google). Disregarding my personal opinion, I wonder if the percentage of MBA graduates on executive positions in a firm can explain significant over or under performance, after controlling for other micro/macro economic factors. Anyone knows of similar studies? Anyone knows of good data sources for education backgrounds of executives?