Changing Ideological Regimes: CEO Succession with A Shift in Political Ideology and New CEO Early Departure
研究了当CEO继任伴随政治意识形态转变（如保守派换为自由派）时，新CEO因需改变前任的意识形态印记而面临更高工作压力，导致早期离职风险增加，并探讨了董事会主席留任和高管团队意识形态匹配的调节作用。
Abstract We examine the effects of CEO succession coupled with a change in political ideology – when a conservative CEO is replaced by a liberal CEO or vice versa. We argue that in such CEO transitions, the new CEOs must alter their predecessors’ ideological imprints to imbue strategic leadership with their own values, which increases their executive job demands in the critical early years of their tenure and raises the likelihood of their early departure. We also suggest that this relationship is moderated by two strategic leadership interface (SLI) factors that influence the executive job demands these new CEOs face: (a) the retention of the ideologically incongruent predecessor as board chair, and (b) the ideological fit between the new CEO and the incumbent executive team. We first test our framework using data from 2286 CEO successions in S&P 1500 firms. We then conduct an experimental study to ensure causality and confirm executive job demands as a mediating mechanism underlying the relationship. Overall, our study advances the disruption theory of succession by shedding light on the deeply held mechanisms that lead to early failure in CEO transitions.