Succession planning and firm innovation

被引：7
作者：
Zhou, Fuzhao [1 ]
机构：
[1] Bowling Green State Univ, Allen W & Carol M Schmidthorst Coll Business, Bowling Green, OH 43403 USA
来源：
FINANCE RESEARCH LETTERS | 2023年 / 58卷
关键词：
Firm innovation; Succession planning; Firm value; CEO TURNOVER; MANAGEMENT; RISK; INVESTMENT; GOVERNANCE; SIZE;
D O I：
10.1016/j.frl.2023.104314
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
In this study, I investigate the relationship between CEO succession planning and firm innovation. I find that having a CEO succession plan is negatively associated with innovation. Furthermore, CEO succession planning's negative effect on firm innovation is more pronounced in smaller and more profitable firms. Additionally, CEO succession planning negatively impacts company value. I contend that it is crucial for organizations to consider CEO succession planning's potential negative effects on innovation and take precautions to minimize them. These results provide valuable insights for academics, investors, managers, and regulators.
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页数：8
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