Executive succession and firm performance: the role of position-specific skills
- Building on strategy-CEO fit research and organizational learning theory, we explore the relationship between CEO succession – specifically a certain skill set of the new CEO – and post-succession performance. For this purpose, we introduce the concept of position-specific skills of a new CEO and empirically test it using a sample of 59 CEO succession events that occurred between 1990 and 2005 in 50 of the largest publicly listed companies in Germany. Results show that position-specific skills of new CEOs actually have an influence on post-succession performance during the early tenure of a CEO. Thus, we conclude that organizational learning theory and position-specific skills of new CEOs offer a promising basis for executive succession research and that they deserve further attention.
Document Type: | Working Paper |
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Language: | English |
Author: | Torsten WulfORCiD, Stephan Stubner |
Chairs and Professorships: | Chair of Strategic Management and Digital Entrepreneurship |
Year of Completion: | 2009 |
Note: | HHL-Arbeitspapier 86. Leipzig: HHL - Leipzig Graduate School of Management, 2008 |