Executive succession as an antecedent to corporate restructuring
研究发现，经历非常规高管继任事件的公司随后会进行更多重组活动，表明意外的高管更替能显著改变管理团队视角，是公司适应竞争环境的重要机制。
Abstract One of the most visible adjustments in company strategies in recent years was the dramatic increase in the level of corporate restructuring activity that took place during the 1980s. Strategic decisions that result in the realignment of firms with their environments are likely to be influenced by the composition of the top management team. This study found that firms experiencing non‐routine executive succession events within the management team subsequently underwent more restructuring activity than did firms without non‐routine executive turnover. These findings suggest that unexpected executive turnovers can significantly alter managerial perspectives within top teams and may thus provide an important mechanism by which firms adapt to their competitive environments. © 1995 by John Wiley & Sons, Inc.