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Who shall succeed? How CEO/board preferences and power affect the choice of new CEOs

EJ Zajac, JD Westphal Academy of Management Journal 1996

This study shows how social psychological and sociopolitical factors can create divergence in the preferences of an incumbent CEO and existing board regarding the desired characteristics of a new CEO, and how relative CEO/board power can predict whose preferences are realized. Using extensive longitudinal data, we found that more powerful...

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