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| Author: | Shen, W. Cannella, A. A. |
| Title: | Revisiting the Performance Consequences of CEO Succession: The Impacts of Successor Type, Postsuccession Senior Executive Turnover, and Departing CEO Tenure |
| Journal: | Academy of Management Journal
2002 : AUG, VOL. 45:4, p. 717-734 |
| Index terms: | PERFORMANCE APPRAISAL CHIEF EXECUTIVE OFFICERS SUCCESS TURNOVER |
| Language: | eng |
| Abstract: | In the past several decades, research on the performance consequences of CEO succession has been extensive but characterized by inconsistent findings and debates about causes and effects. Highlighting the importance of succession context, this study examines the performance impacts of successor type, postsuccession senior executive turnover, and departing CEO tenure. Following a power circulation theory of control, the authors distinguished three types of CEO successors: followers, contenders, and outsiders. The authors' theory and evidence from a sample of 228 CEO successions suggest that successor type interacts with postsuccession senior executive turnover to influence firm return on assets (ROA) and that there is an inverted U-shaped relationship between departing CEO tenure and postsuccession firm ROA. |
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