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Examining CEO succession and the role of heuristics in early‐stage CEO evaluation

Author

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  • Scott D. Graffin
  • Steven Boivie
  • Mason A. Carpenter

Abstract

This study develops and tests predictions regarding factors that influence early‐stage CEO evaluation. We suggest that contextual elements of the CEO succession process will influence the heuristics that directors employ to aid in their early evaluation of a CEO because traditional performance metrics, such as firm performance, are less diagnostic of CEO quality in the first years of their tenure. Broad empirical support for our theoretical arguments is shown in a sample of Fortune 1000 firms. Copyright © 2012 John Wiley & Sons, Ltd.

Suggested Citation

  • Scott D. Graffin & Steven Boivie & Mason A. Carpenter, 2013. "Examining CEO succession and the role of heuristics in early‐stage CEO evaluation," Strategic Management Journal, Wiley Blackwell, vol. 34(4), pages 383-403, April.
    • Handle: RePEc:bla:stratm:v:34:y:2013:i:4:p:383-403
    DOI: 10.1002/smj.2019
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    Citations

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    Cited by:

    1. Donald C. Hambrick & Eric Y. Lee, 2025. "A Model of CEO Succession Planning as a Risky Investment: Anticipated Costs, Uncertain Results, and Contingency Conditions," Organization Science, INFORMS, vol. 36(2), pages 677-696, March.
    2. Chen, Long & Park, June Woo & Tsang, Albert & Xu, Xiaofang, 2025. "The puzzle of left-handedness: Evidence from corporate innovation," Journal of Behavioral and Experimental Finance, Elsevier, vol. 46(C).
    3. Bo Ouyang & Yi Tang & Chong Wang & Jian Zhou, 2022. "No-Fly Zone in the Loan Office: How Chief Executive Officers’ Risky Hobbies Affect Credit Stakeholders’ Evaluation of Firms," Organization Science, INFORMS, vol. 33(1), pages 414-430, January.
    4. Khaled Abdulsalam & Dane M. Christensen & Scott D. Graffin & John Li, 2025. "Do Boards Reward and Punish CEOs Based on Employee Satisfaction Ratings?," Organization Science, INFORMS, vol. 36(2), pages 881-902, March.
    5. Shan Xue & Lin Zhang & Honghui Chen & Juelin Yin, 2022. "Does environmental underperformance duration affect firms' green innovation? Evidence from China," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 31(3), pages 662-681, July.
    6. Alina G. Andrei & J. (Hans) van Oosterhout & Steve Sauerwald, 2023. "Symbolic Shareholder Democracy: Toward a Behavioral Understanding of the Role of Shareholder Voting in CEO Dismissals," Organization Science, INFORMS, vol. 34(5), pages 1736-1758, September.
    7. Ruxi Wang & Yihui Xiao & Chunling Zhu & Yuwei Qi, 2025. "Is obedience rewarding? State investment in response to CSR reporting in China," Asia Pacific Journal of Management, Springer, vol. 42(3), pages 1303-1343, September.
    8. Robert Langan & Nicolas Deuschel, 2025. "Interim CEO Successions: Implications for CEO Successor Selection and Subsequent Firm Performance," Organization Science, INFORMS, vol. 36(2), pages 786-808, March.
    9. Angelov Ivan, 2025. "Key Leadership Functions for Achieving Long-Term Competitive Advantage in Business," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 19(1), pages 969-980.
    10. Rajiv Krishnan Kozhikode & Rekha Krishnan, 2022. "Stepping into Ill-Fitting Shoes: Local Status Contrasts and Acquisitiveness of New CEOs," Strategy Science, INFORMS, vol. 7(3), pages 210-239, September.

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