CEO Successor Choice, its Antecedents and Influence on Subsequent Firm Performance
研究了219个CEO继任事件，发现机构持股与公司绩效共同影响继任者类型选择，但继任者来源不影响后续公司绩效。
Prior CEO succession research has been inconclusive, and studies suffer from threats to external validity from sampling limitations. This study uses 219 succession events over a 2-year period to investigate the antecedents and consequences of CEO successor type. Our findings suggest that institutional ownership interacts with firm performance to influence successor choice. Firm performance subsequent to the succession is not influenced by the successor's origin.