A CRITICAL ANALYSIS OF CHIEF EXECUTIVE OFFICER SUCCESSION LITERATURE AND FUTURE RESEARCH AGENDA
DOI:
https://doi.org/10.22437/jbsmr.v8i1.39495Keywords:
Chief Executive Officer, CEO Succession, CEO Change, Leadership Succession, Leadership TransitionAbstract
Abstract
This paper has two objectives. Firstly, it aims to examine prior research on CEO succession in order to establish a comprehensive framework, building upon the contributions of Berns & Klarner (2017) to the present. Secondly, it proposes a future research agenda concerning the board’s role in CEO succession procedures. Articles in ten leading journals listed in EBSCO, ScienceDirect, and Scopus databases were selected. Conceptual and relational analyses were taken to achieve the objectives of this paper. At last, this paper produces a comprehensive framework of CEO succession research built on and extended from the prior research. A future research agenda concerning CEO succession is also proposed.
Downloads
References
Berns, K. D., & Klarner, P. (2017). A review of the CEO succession literature and a future research program. Academy of Management Perspectives, 31(2), 83–108. https://doi.org/10.5465/amp.2015.0183.
Biggs, E. L. (2004). CEO succession planning: An emerging challenge for boards of directors. Academy of Management Executive, 18(1), 105–107.
Bilgili, H., Campbell, J. T., Kelly, A. O., Ellstrand, A. E., & Johnson, J. L. (2020). The final countdown: Regulatory Focus and the phases of CEO retirement. Academy of Management Review, 45(1), 58-84. https://doi.org/10.5465/amr.2016.0455.
Bilgili, H., Campbell, J. T., Kelly, A. O., Ellstrand, A. E., & Johnson, J. L. (2020). Dialogue. On the role of CEO discretion and agency in the process of CEO retirement. Academy of Management Review, 45(1), 243–246. https://doi.org/10.5465/amr.2019.0099.
Bilgili, H., Campbell, J. T., Kelly, A. O., Ellstrand, A. E., & Johnson, J. L. (2017). Riding off into the sunset: Organizational sensegiving, shareholder sensemaking, and reactions to CEO retirement. Journal of Management Studies, 54(7), 1019-1049. https://doi.org/10.1111/joms.12264.
Bower, J. L. (2009). Managing your CEO’s succession. In J. W. Lorsch (Ed.), The future of boards (pp. 53–75). Boston: Harvard Business Review Press.
Calabrò, A., Minichilli, A., Amore, M. D., & Brogi, M. (2018). The courage to choose! Primogeniture and leadership succession in family firms. Strategic Management Journal, 39(7), 2014-2035. https://doi.org/10.1002/smj.2760.
Cannella, A. A. J.,&Shen, W. (2001). So close and yet so far: Promotion versus exit for CEO heirs apparent. Academy of Management Journal, 44(2), 252–270.
Chen, G., Crossland, C., & Huang, S. (2019).That could have been me: Director death, CEO mortality salience, and corporate prosocial behavior. Management Science, 1-20. https://doi.org/10.1287/mnsc.2019.3348.
Chiu, S. C., & Walls, J. L. (2019). Leadership change and corporate social performance: The context of financial distress makes all the difference. The Leadership Quarterly, 30(5), 101307, 1-13. https://doi.org/10.1016/j.leaqua.2019.101307
Dwivedi¸ P., Joshi, A., & Misangyi, V. F. (2020). Gender-inclusive Gatekeeping: How (Mostly Male) Predecessors Influence the Success of Female CEOs. Academy of Management Journal, 61(2), 379–404. https://doi.org/10.5465/amj.2015.1238.
Farah, B., Elias, R., Clercy, C. D., Rowe, G. (2020). Leadership succession in different types of organizations: What business and political successions may learn from each other. The Leadership Quarterly, 31(101289), 1-21.
Friedman, S. D., & Olk, P. (1995). Four ways to choose a CEO: Crown heir, horse race, coup d’etat, and comprehensive search. Human Resource Management, 34(1), 141–164.
Georgakakis, D., & Ruigrok, W. (2017). CEO succession origin and firm performance: A multilevel study. Journal of Management Studies, 54(1), 58–87. https://doi.org/10.1111/joms.12194.
Grusky, O. (1960). Administrative succession in formal organizations. Social Forces, 39(2), 105–115.
Guest, R. H. (1962). Managerial succession in complex organizations. American Journal of Sociology, 68(1), 47–56.
Johnson, J. L., Daily, C. M., & Ellstrand, A. E. (1996). Boards of directors: A review and research agenda. Journal of Management, 22(3), 409–438.
Kesner, I. F., & Sebora, T. C. (1994). Executive succession: Past, present & future. Journal of Management, 20(2), 327–372.
Lee, J. M., Yoon, D., & Boivie, S. (2020). Founder CEO Succession: The Role of CEO Organizational Identification. Academy of Management Journal, 63(1), 224–245. https://doi.org/10.5465/amj.2017.0091.
Li, H. J, Hausknecht, J. P., & Dragon, L. (2020). Initial and longer-term change in unit-level turnover following leader succession: Contingent effects of outgoing and incoming leader characteristics. Organization Science, 31(2), 245-534. https://doi.org/10.1287/orsc.2019.1295.
Li, J. B., & Piezunka, H. (2020). The Uniplex Third: Enabling Single-domain Role Transitions in Multiplex Relationships. Administrative Science Quarterly, 65(2), 314–358. https://doi.org/10.1177/0001839219845875.
Lorsch, J. W., & Khurana, R. (1999). Changing leaders. Harvard Business Review, 77(3), 96–105.
Ma, S., & Seidl, D. (2018). New CEOs and their collaborators: Divergence and convergence between the strategic leadership constellation and the top management team. Strategic Management Journal, 39(3), 606-638. https://doi.org/10.1002/smj.2721.
Mooney, C. H., Semadeni, M., & Kesner, I. F. (2017). The selection of an interim CEO: Boundary conditions and the pursuit of temporary leadership. Journal of Management, 43(2), 455–475. https://doi.org/10.1177%2F0149206314535433.
Schepker, D. J., & Barker, V. L. (2018). How stigmatized are dismissed chief executives? The role of character questioning causal accounts and executive capital in dismissed CEO reemployment. Strategic Management Journal, 39(9), 2566-2586. https://doi.org/10.1002/smj.2922.
Schepker, D. J., Kim, Y., Patel, P. C., Thatcher, S. M., & Campion, M. C. (2017). CEO succession, strategic change, and post-succession performance: A meta-analysis. The Leadership Quarterly, 28, 701–720. https://doi.org/10.5465/amr.2015.0102.
Schepker, D. J., Nyberg, A. J., Ulrich, M. D., & Wright, P. M. (2018). Planning for future leadership: Procedural rationality, formalized succession processes, and CEO influence in CEO succession planning. Academy of Management Journal, 61, 523–552.
Short, J. (2009). The art of writing a review article. Journal of Management, 35(6), 1312–1317.
Theissen, M. H., & Theissen, H. H. (2020). CEO Retirement: Definition, Discretion, and Routes. Academy of Management Review, 45(1), 239–242. https://doi.org/10.5465/amr.2018.0480.
Vancil, R. F. (1987). Passing the baton: Managing the process of CEO succession. Cambridge, MA: Harvard University Press.
Waldkirch, M., Nordqvist, M., & Melin, L. (2017). CEO turnover in family firms: How social exchange relationships influence whether a non-family CEO stays or leaves. Human Resource Management Review, 28(1), 56-67. http://dx.doi.org/10.1016/j.hrmr.2017.05.006.
Yi, X., Zhang, Y. A., & Windsor, D. (2019). You are great and I am great (too): Examining new CEOs’ social influence behaviors during leadership transition. Academy of Management Journal. https://doi.org/10.5465/amj.2018.0365.
Zhang, Y. (2008). Information asymmetry and the dismissal of newly appointed CEOs: An empirical investigation. Strategic Management Journal, 29(8), 859–872.
Zhang, Y., & Rajagopalan, N. (2003). Explaining new CEO origin: Firm versus industry antecedents. Academy of Management Journal, 46(3), 327–338.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Nur Hasanah

This work is licensed under a Creative Commons Attribution 4.0 International License.
This work is licensed under a Creative Commons Attribution 4.0 International License.