Does CEO Succession Planning (Disclosure) Create Shareholder Value?

Qi, Qianru

doi:10.1017/s0022109022000345

Cited by 10 publications

(6 citation statements)

References 43 publications

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“…To test H2b, whether the moderating effect of digital transformation is more pronounced when organizational complexity is high, we separate our sample into two subgroups. Following previous studies (Bushman et al, 2004; McConnell & Qi, 2022), we use industry diversification and asset size to capture organizational complexity. In Panel B of Table 3, columns (1) and (2) are grouped by industry diversity, while subsamples in columns (3) and (4) are based on asset size.…”

Section: Resultsmentioning

confidence: 99%

“…In order to examine our H2b, we run Model (2) for two different subgroups: firms with high organizational complexity and those with low organizational complexity. To be more specific, we use industry diversification and asset size to capture organizational complexity (Bushman et al, 2004; McConnell & Qi, 2022). If the industry diversification or asset size of an observation is above the sample median, we classify the observation into a high organizational complexity group.…”

Section: Methodsmentioning

confidence: 99%

“…For successors, a complex organization means greater communication barriers and communication costs. The successor needs to spend more time and effort learning the proprietary knowledge and familiarizing themselves with the new work (McConnell & Qi, 2022). Digital technologies are extremely advantageous in processing large volumes of complex information, which may allow successors to learn specific knowledge quickly, improve their communication efficiency, and mitigate their negative impact on R&D activities.…”

Section: Hypotheses Developmentmentioning

confidence: 99%

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Can digital transformation reduce R&D investment disruption during the top executive transition period?

Deng,

Hou,

Shen

2024

Manage Decis Econ

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This study examines whether digital transformation can reduce research and development (R&D) investment disruption during the top executive transition period. Using panel data of A‐listed firms in China from 2007 to 2021, we find that top executive turnover (TET) generally leads to a remarkable reduction in R&D investment, while digital transformation can significantly mitigate the negative impact of TET on R&D investment. Moreover, the smooth management transition effect of digital transformation is more pronounced for firms with outside succession and high organizational complexity. We further divide R&D investments into exploratory and exploitative R&D investments. Compared to exploitative R&D investment, exploratory R&D investment is more adversely affected by TET, and digital transformation has a positive moderating effect on the relationship between them. Our findings suggest that digital transformation enables companies to maintain continuous R&D investment during the top executive transition by improving communication efficiency and enhancing organizational learning.

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Section: Resultsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Section: Hypotheses Developmentmentioning

confidence: 99%

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Can digital transformation reduce R&D investment disruption during the top executive transition period?

Deng,

Hou,

Shen

2024

Manage Decis Econ

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“…Shareholder participation in company compensation policies can affect the quality of corporate governance (Gulen and O'Brien 2017). Patents can increase a company's customer resources, positively impacting company performance and stock valuation (Ertugrul et al 2023) The CEO succession plan can increase the value of large companies, but it will reduce the value of small businesses (McConnell and Qi 2022). Employee flexibility is a valuable intangible asset for enterprises, which can help them cope with external shocks and enhance their value (Au et al 2021).…”

Section: Factors Influencing Corporate Valuementioning

confidence: 99%

Knowledge Mapping to Understand Corporate Value: Literature Review and Bibliometrics

Li,

Pongtornkulpanich,

Chankoson

2024

JRFM

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The purpose of this study is to summarize the research results on corporate value published from 2000 to 2022; show the research overview, hot trends, and topic evolution of this research field; provide new ideas for the mining of the research frontiers of corporate value and a summary of the change rules of research hotspots; and describe prospects for the evolution direction and path of future research. Combining the bibliometric research method with a literature review, the research results on corporate value were analyzed quantitatively by querying the WOS database from 2000 to 2022; the analysis tool was CiteSpace. This study has five findings. First, researchers are paying increasing attention to the study of corporate value, and most of the research results are obtained by independent authors. Second, Chinese research institutions rank among the top three in publication volume. However, their research results have had little impact, with Univ Penn and Peking Univ having the most significant impact. Third, the top three keywords that scholars pay attention to are performance, impact, and corporate governance. Keyword burst analysis, CSR, value reliability, and sustainability are the latest research frontiers. Fourth, evolutionary trends are divided into three stages: research on the influencing factors of corporate value, research on the impact of corporate behavior on corporate value, and research on the evaluation and growth of corporate value. Fifth, knowledge domains include corporate value research methods, the factors influencing corporate value, and corporate behavior. The aims of this study are to provide a new perspective for researchers to study corporate value, provide new ideas for enterprise managers to manage corporate value, and achieve the sustainable development of corporate value. At the same time, the scientific knowledge graph method is applied in corporate value research, adding a new research path for corporate value.

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“…Family business studies have attracted the interest of many researchers [1][2][3][4] as family firms play a crucial role in promoting sustainable economic development, emerging innovation, and stable employment [5]. The sustainable development of family businesses is momentous not only for themselves but also for the advancement of the entire economy.…”

Section: Introductionmentioning

confidence: 99%

Sustainable Development of Chinese Family Businesses: Exploring the Role of Succession Planning in Maintaining Organizational Sustainability from the Perspective of Socioemotional Wealth

Li,

Mustapha,

Hassan

et al. 2024

Sustainability

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Identifying the factors affecting organizational sustainability is a crucial topic in the field of social science and business research. Especially in family businesses, the most crucial issue is how to maintain corporate sustainability across generations. In this regard, succession planning plays a key role in maintaining the sustainable development of family businesses. From the perspective of socioemotional wealth, this study discusses the motivations and consequences of intrafamily succession by measuring the impact of the internal determining factors of succession planning on family business performance. Based on a sample of 281 Chinese family firms, this study uncovers the relationship between succession planning and organizational performance. The core findings of this study include succession planning is positively related to organizational performance in the matter of the successor’s training; succession planning has a positive effect on organizational performance in terms of the successor’s self-preparation; and succession planning is positively correlated with organizational performance in the aspect of the relationship between the successor and business. By illustrating that the formulation of succession planning is an essential pursuit for family businesses to preserve sustainability and socioemotional wealth, the results reveal ways to facilitate succession planning through internal factors in the family business. This study contributes to organizational sustainable development literature, family business sustainability studies, and succession management research by validating the positive relationship between succession planning and organizational performance, indicating that succession planning is a vital driving force for achieving organizational sustainability.

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Does CEO Succession Planning (Disclosure) Create Shareholder Value?

Cited by 10 publications

References 43 publications

Can digital transformation reduce R&D investment disruption during the top executive transition period?

Can digital transformation reduce R&D investment disruption during the top executive transition period?

Knowledge Mapping to Understand Corporate Value: Literature Review and Bibliometrics

Sustainable Development of Chinese Family Businesses: Exploring the Role of Succession Planning in Maintaining Organizational Sustainability from the Perspective of Socioemotional Wealth

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