Seeking distinctiveness through divestments: CEO succession and the effect of demographic similarity on the divestment of predecessor's investments
Abstract
Why do successor CEOs divest those organizational units that they divest shortly after taking office? In order to contribute to this question, we take a behavioral perspective and develop a theoretical framework that draws on pioneering work in social psychology, in particular, research on individuals' need for distinctiveness and argue that demographic similarity to their CEO predecessors may evoke negative affect as it threatens CEO...
Paper Details
Title
Seeking distinctiveness through divestments: CEO succession and the effect of demographic similarity on the divestment of predecessor's investments
Published Date
Mar 14, 2018
Volume
39
Issue
4
Pages
462 - 474
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