Industry structure and CEO characteristics: an empirical study of succession events
基于134次制造业企业CEO继任事件，研究了行业结构如何影响新任CEO的特征，并探讨了匹配行业结构与CEO特征对企业后续绩效的影响。
Based on 134 CEO succession events in nondiversified, manufacturing firms, this study examines the relationships between industry structure and the characteristics of CEO successors. The paper also explores the performance implications of the fit between industry structure and CEO successors. Results indicate that industry structure plays an important, but not pervasive, role in explaining variations in newly selected CEOs. Specifically, the higher the level of industry product differentiation, the lower the organizational tenure, the higher the educational level and the greater the likelihood of a nonthroughput background in the CEO successor; the higher the industry growth rate, the lower the organizational tenure and age of the CEO successor. However, findings provide very limited support for the normative view that firms which match CEO successor characteristics to industry structure realize better postsuccession performance than those with lower levels of fit. © 1998 John Wiley & Sons, Ltd.