This article extends upper echelon and CEO succession research by focusing on the role of organizational context. Drawing on emotional and political perspectives on the CEO succession- performance relationship within the context of family businesses, we develop and test a model focused on the impact of CEO succession alone on firm performance, as well as the impact of both departing and arriving characteristics of CEOs. The model also considers the relationship between CEO succession and different performance measures related to firms’ financial choices, which we expect are particularly important given our empirical context and theoretical perspective. Our results have implications for theory and practice.
CEO succession in family controlled firms: The impact of leaving and succeeding CEOs on firm performance
MINICHILLI, ALESSANDRO;CORBETTA, GUIDO GIUSEPPE;
2009
Abstract
This article extends upper echelon and CEO succession research by focusing on the role of organizational context. Drawing on emotional and political perspectives on the CEO succession- performance relationship within the context of family businesses, we develop and test a model focused on the impact of CEO succession alone on firm performance, as well as the impact of both departing and arriving characteristics of CEOs. The model also considers the relationship between CEO succession and different performance measures related to firms’ financial choices, which we expect are particularly important given our empirical context and theoretical perspective. Our results have implications for theory and practice.
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