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CEO succession and firm performance: Evidence from publicly listed Malaysian firms


Ishak, Rokiah and Ku Ismail, Ku Nor Izah and Abdullah, Shamsul Nahar (2013) CEO succession and firm performance: Evidence from publicly listed Malaysian firms. Asian Academy of Management Journal of Accounting and Finance, 9 (2). pp. 29-48. ISSN 1823-4992

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Abstract

This study investigates the impact of CEO succession on the financial performance of publicly listed Malaysian firms.A match-paired t-test and Wilcox on signed-rank test are used to determine if there is a change in firm performance following CEO succession.The overall results show that performance improves following post-succession.We also find significant improvement in the performance of companies that experienced forced turnovers and subsequently selected outsiders as successors.On the other hand, forced CEO turnovers that are followed by internal successions disrupt firm performance.As CEO successions impact firms’ future performance, the succession planning process should be a priority for firms.

Item Type: Article
Uncontrolled Keywords: CEO succession, post-succession performance, forced turnover, voluntary turnover, internal successor, outside successor
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Tunku Puteri Intan Safinaz School of Accountancy (TISSA)
Depositing User: Dr. Rokiah Ishak
Date Deposited: 04 Nov 2015 02:08
Last Modified: 18 Apr 2016 04:42
URI: http://repo.uum.edu.my/id/eprint/16063

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