When the known devil is better than an unknown god: An empirical study of the antecedents and consequences of relay CEO successions
Y Zhang, N Rajagopalan - Academy of management journal, 2004 - journals.aom.org
Academy of management journal, 2004•journals.aom.org
Taking an organizational learning and adaptation perspective, we compared “relay” CEO
successions with nonrelay inside successions and outside successions. Data on 204 CEO
successions between 1993 and 1998 in nondiversified US manufacturing firms showed that
the likelihood of relay succession was negatively associated with the number of internal
candidates and positively associated with presuccession firm performance. We also found
that relay successions led to better postsuccession firm performance, particularly at lower …
successions with nonrelay inside successions and outside successions. Data on 204 CEO
successions between 1993 and 1998 in nondiversified US manufacturing firms showed that
the likelihood of relay succession was negatively associated with the number of internal
candidates and positively associated with presuccession firm performance. We also found
that relay successions led to better postsuccession firm performance, particularly at lower …
Taking an organizational learning and adaptation perspective, we compared “relay” CEO successions with nonrelay inside successions and outside successions. Data on 204 CEO successions between 1993 and 1998 in nondiversified U.S. manufacturing firms showed that the likelihood of relay succession was negatively associated with the number of internal candidates and positively associated with presuccession firm performance. We also found that relay successions led to better postsuccession firm performance, particularly at lower levels of presuccession firm performance and higher levels of postsuccession strategic and industry instability.
Academy of Management