External management succession, human capital, and firm performance: an integrative analysis
Economic analysis of human capital leads to a somewhat different question than that addressed by other management research on external succession: do differences between external successors in the transferability of their human capital affect firm performance, and if so, how? By comparing external successors that have within-industry and related-industry skills, we find that successors with less transferable (related-industry) skills have greater variance of firm performance. Our analysis provides an example of the benefits of integrating economic concepts with empirical research in competitive strategy, on a topic of central concern in the traditional strategic management literature, namely, top executives. Copyright © 2003 John Wiley & Sons, Ltd.
Volume (Year): 24 (2003)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/7976|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Furtado, Eugene P. H. & Rozeff, Michael S., 1987. "The wealth effects of company initiated management changes," Journal of Financial Economics, Elsevier, vol. 18(1), pages 147-160, March.
- Williams, J.R., 1992. "How Sustainable is your Competitive Advantage?," GSIA Working Papers 1992-03, Carnegie Mellon University, Tepper School of Business.
- Smart, Scott B & Waldfogel, Joel, 1994. "Measuring the Effect of Restructuring on Corporate Performance: The Case of Management Buyouts," The Review of Economics and Statistics, MIT Press, vol. 76(3), pages 503-11, August.
- Pourciau, Susan, 1993. "Earnings management and nonroutine executive changes," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 317-336, April.
- Teece, David J, 1981. "Internal Organization and Economic Performance: An Empirical Analysis of the Profitability of Principal Firms," Journal of Industrial Economics, Wiley Blackwell, vol. 30(2), pages 173-99, December.
- Lev, Baruch & Mandelker, Gershon, 1972. "The Microeconomic Consequences of Corporate Mergers," The Journal of Business, University of Chicago Press, vol. 45(1), pages 85-104, January.
- Castanias, Richard P. & Helfat, Constance E., 1992. "Managerial and windfall rents in the market for corporate control," Journal of Economic Behavior & Organization, Elsevier, vol. 18(2), pages 153-184, July.
- Helfat, Constance E & Teece, David J, 1987. "Vertical Integration and Risk Reduction," Journal of Law, Economics and Organization, Oxford University Press, vol. 3(1), pages 47-67, Spring.
When requesting a correction, please mention this item's handle: RePEc:wly:mgtdec:v:24:y:2003:i:4:p:347-369. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.