Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
976077 | Pacific-Basin Finance Journal | 2013 | 16 Pages |
Abstract
We study CEO successions in China and focus on the decision to appoint outsiders as CEOs. In doing so, we also differentiate our sample into SOEs (state-owned enterprises) and non-SOEs. We find that firm-specific factors can predict external successions for SOEs, but not for non-SOEs. Further, for those SOEs that choose outsiders as CEOs for firm-specific reasons, their subsequent firm performance improves.
► Using China’s experience, we study the decision to appoint outsiders as CEOs. ► Our sample differentiates between SOEs and non-SOEs. ► Firm-specific factors predict external successions at SOEs, but at non-SOEs. ► Firm performance improves for SOEs that choose outsiders as CEOs.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Fuxiu Jiang, Jicheng Huang, Kenneth A. Kim,