Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/43685
Authors: 
Decker, Carolin
Bresser, Rudi K. F.
Mellewigt, Thomas
Year of Publication: 
2010
Series/Report no.: 
School of Business & Economics Discussion Paper: Economics 2010/25
Abstract: 
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.
ISBN: 
978-3-941240-36-0
Document Type: 
Working Paper

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