CEO successions in times of decline and prosperity: restoring aspiration and performance implications in family firms

Calabrò, Andrea; Torchia, Mariateresa; Yezza, Hedi; Quarato, Fabio

doi:10.1108/ijebr-03-2022-0299

Cited by 1 publication

(1 citation statement)

References 82 publications

(170 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…According to previous literature that examined the effect of CEO succession on firm outcomes (Liu and Atinc, 2021;Amore et al, 2021) and considered the longitudinal structure of our dataset, the research hypotheses were tested by employing the generalized difference-indifferences (DiD) technique using fixed effects panel regressions (Calabr o et al, 2018(Calabr o et al, , 2023. All empirical models included robust standard errors to control for heteroscedasticity and serial correlation.…”

Section: Methodsmentioning

confidence: 99%

Driving ESG performance: CEO succession impact in European listed firms

Cambrea,

Quarato,

D'Allura

et al. 2024

Self Cite

View full text Add to dashboard Cite

PurposeThe purpose of the paper is to examine the effect of chief executive officer (CEO) succession on environmental, social and governance (ESG) performance and whether the characteristics of the incoming CEO, in terms of both gender and career horizon, are able to affect the relationship between CEO succession and ESG score.Design/methodology/approachThe paper investigates a sample of European-listed companies between 2010 and 2021. Difference-in-difference and fixed-effects regressions are employed as the base empirical methodology. In addition, the robustness of the empirical findings is assessed by employing alternative methodologies and a different ESG proxy.FindingsThe empirical findings show the existence of a positive link between CEO succession and ESG performance and that this relationship is affected by two characteristics of the incoming CEO. Specifically, the empirical evidence indicates that the positive effect is magnified by the gender and the career horizon of the incoming CEO.Originality/valueConsidering the lack of research, this paper is the first one that opens a debate about the effects of CEO succession on corporate ESG performance in several European countries. By employing a unique sample of European listed firms, which has never been examined in other empirical research, this study highlights the importance of the demographic features of the incoming CEOs that should be taken into consideration during their selection process.

show abstract