CEO successions in times of decline and prosperity: restoring aspiration and performance implications in family firms

被引：1

作者：

Calabro, Andrea ^{[1
]}

Torchia, Mariateresa ^{[2
]}

Yezza, Hedi ^{[3
]}

Quarato, Fabio ^{[4
]}

机构：

[1] PAG Business Sch, Chair Sustainable Family Business & Entrepreneursh, Campus Nice, Nice, France

[2] Int Univ Monaco, Omnes Educ, Monte Carlo, Monaco

[3] Univ Sherbrooke, Business Sch, Sherbrooke, PQ, Canada

[4] Bocconi Univ, Dept Management & Technol, Milan, Italy

来源：

INTERNATIONAL JOURNAL OF ENTREPRENEURIAL BEHAVIOR & RESEARCH | 2023年 / 29卷 / 9/10期

关键词：

Family firms; Family CEO; Non-family outsider CEO; Performance aspiration; Organizational slack; Performance; SOCIOEMOTIONAL WEALTH; RISK-TAKING; EMPIRICAL-EXAMINATION; MODERATING ROLE; SLACK; MANAGEMENT; CONSEQUENCES; OWNERSHIP; INTERNATIONALIZATION; DIMENSIONS;

D O I：

10.1108/IJEBR-03-2022-0299

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

PurposeThe aim of this paper is to develop and test a behavioral theory of chief executive officer (CEO) succession and its performance consequences in family firms. Building upon performance feedback and slack research, the study hypothesizes that the effect of selecting a non-family outsider CEO on post-succession firm performance is contingent upon pre-succession firm performance aspirations level and the available slack resources.Design/methodology/approachThe hypotheses are tested using a panel of 430 CEO successions in Italian family firms.FindingsThe findings show that a non-family outsider CEO is particularly valuable when performance resides far below aspiration levels, and there is a high availability of slack resources.Originality/valueThe study provides novel insights of the benefits and drawbacks of selecting non-family outsider CEOs offering behavioral-based theoretical explanations of performance consequences of CEO successions.

引用

页码：2023 / 2044

页数：22

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