Appointments of outsiders as CEOs, state-owned enterprises, and firm performance: Evidence from China

作者：Jiang, Fuxiu^*; Huang, Jicheng; Kim, Kenneth A

来源：Pacific-Basin Finance Journal, 2013, 23: 49-64.

DOI：10.1016/j.pacfin.2013.01.003

• CEO succession
• State-owned enterprise
• China

We study CEO successions in China and focus on the decision to appoint outsiders as CEOs. In doing so, we also differentiate our sample into SOEs (state-owned enterprises) and non-SOEs. We find that firm-specific factors can predict external successions for SOEs, but not for non-SOEs. Further, for those SOEs that choose outsiders as CEOs for firm-specific reasons, their subsequent firm performance improves.

• 出版日期2013-6
• 单位中国人民大学