Strategic or status quo-preserving business exit: (how) do CEO turnover and succession matter?

Arbeitspapier

Business exit has implications for a firm's corporate strategy. Two types of exit events are distinguished: those that involve strategic change and those that are status quo-preserving. This study investigates the impact of CEO turnover and succession on strategic versus status quo-preserving business exits. Based on a sample of CEO turnover and succession events and subsequent business exits of German corporations from different industries, our results suggest that neither voluntary nor involuntary CEO turnover is relevant to business exit. In contrast, outsider succession significantly affects the likelihood of strategic business exit, while a corporation's performance does not moderate this relationship.

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• ISBN: 978-3-941240-36-0
• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Diskussionsbeiträge ; No. 2010/25

Classification and Topics

• Classification: Wirtschaft
• Subject: Liquidation ; Marktaustritt ; Wettbewerbsstrategie ; Führungswechsel ; Schätzung ; Deutschland

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Decker, Carolin ; Bresser, Rudi K. F. ; Mellewigt, Thomas
• Event: Veröffentlichung
• (who): Freie Universität Berlin, Fachbereich Wirtschaftswissenschaft
• (where): Berlin
• (when): 2010

Further information

• Handle: http://hdl.handle.net/10419/43685