Experience Matters? The Impact of Prior CEO Experience on Firm Performance
研究2005年标普500公司CEO，发现先前担任CEO的经验反而与当前企业绩效负相关，尤其是直接跳槽或行业/公司规模相似的CEO表现更差。
We sample CEOs of the 2005 S&P 500 corporations to look at the relationship between experience in the CEO position of a different firm and the post-succession financial performance of the firm that they currently lead. We find that experience in the CEO position is negatively related to firm performance. CEOs who directly move to their current CEO position from the previous one and those with job-specific experience in the same or related industry or at the helm of a previous company similar in size to the current one are associated with significantly lower post-succession performance than those without prior CEO experience. The results contribute to the literatures on CEO succession, the performance effect of job-specific experience, and the transferability of human capital. © 2014 Wiley Periodicals, Inc.