Revisiting the performance consequences of CEO succession: The impacts of successor type, postsuccession senior executive turnover, and departing CEO tenure

Wei Shen, Albert A. Cannella

Research output: Contribution to journalArticlepeer-review

296 Scopus citations

Abstract

Highlighting the importance of succession context, this study examines the performance impacts of successor type, postsuccession senior executive turnover, and departing CEO tenure. Following a power circulation theory of control, we distinguished three types of CEO successors: followers, contenders, and outsiders. Our theory and evidence from a sample of 228 CEO successions suggest that successor type interacts with postsuccession senior executive turnover to influence firm return on assets (ROA) and that there is an inverted U-shaped relationship between departing CEO tenure and postsuccession firm ROA.

Original languageEnglish (US)
Pages (from-to)717-733
Number of pages17
JournalAcademy of Management Journal
Volume45
Issue number4
DOIs
StatePublished - Aug 2002

ASJC Scopus subject areas

  • Business and International Management
  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation

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