Opportunist or steward?
Bresser, Rudi K. F. ;  Valle Thiele, Reynaldo ;  Biedermann, Annette ;  Lüdeke, Holger ;  Institut für Management <Berlin, Freie Universität>

Main titleOpportunist or steward?
SubtitleThe influence of the board chairman on CEO dismissals and replacements ; Paper presented at the 26th annual conference of the Strategic Management Society, Vienna, October 2006
AuthorBresser, Rudi K. F.
AuthorValle Thiele, Reynaldo
AuthorBiedermann, Annette
AuthorLüdeke, Holger
InstitutionInstitut für Management <Berlin, Freie Universität>
No. of Pages11 S.
Series Discussion papers in strategic management; 2006/1
Keywordsexecutive succession, CEO duality, stewardship theory, agency theory
Classification (DDC)330 Economics
AbstractBased on a sample of large, publicly traded German companies, we study performance
implications of CEO duality for executive succession events. We find that CEO dismissals are more frequent at low levels of pre-succession market-based performance and CEO duality. Postsuccession sales growth and operating earnings are higher for firms with CEO dismissals and CEO duality. Our results provide partial support to stewardship theory and no support to agency theory.
If your browser can't open the file, please download the file first and then open it
FU DepartmentDepartment Business and Economics
Other affiliation(s)Institut für Management
Year of publication2006
Type of documentBook
Terms of use/Rights Nutzungsbedingungen
Created at2008-08-06 : 08:41:32
Last changed2015-02-27 : 08:24:46
Static URLhttp://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000000572