Oskar Kowalewski, Aleksandra Majda-Kariozen, Blazej Socha
{"title":"创始人参与CEO更替","authors":"Oskar Kowalewski, Aleksandra Majda-Kariozen, Blazej Socha","doi":"10.1002/jsc.2547","DOIUrl":null,"url":null,"abstract":"Abstract We study the role of a company founder in the internal governance of firms. Using a sample of 484 CEO turnovers for 2000–2015, we establish that CEOs are fired for poor performance. However, the likelihood of a poor‐performing founder‐CEO being fired is lower than that of an outsider CEO. Moreover, having a founder as a member of the executive or supervisory board decreases the likelihood that a CEO will be dismissed for poor performance. Similarly, founder ownership may have the same effect on CEO turnover. Finally, being a founder does not guarantee a poor‐performing CEO a chairman position after being fired.","PeriodicalId":46986,"journal":{"name":"Strategic Change-Briefings in Entrepreneurial Finance","volume":"8 1","pages":"0"},"PeriodicalIF":3.6000,"publicationDate":"2023-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Founder involvement in <scp>CEO</scp> turnover\",\"authors\":\"Oskar Kowalewski, Aleksandra Majda-Kariozen, Blazej Socha\",\"doi\":\"10.1002/jsc.2547\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Abstract We study the role of a company founder in the internal governance of firms. Using a sample of 484 CEO turnovers for 2000–2015, we establish that CEOs are fired for poor performance. However, the likelihood of a poor‐performing founder‐CEO being fired is lower than that of an outsider CEO. Moreover, having a founder as a member of the executive or supervisory board decreases the likelihood that a CEO will be dismissed for poor performance. Similarly, founder ownership may have the same effect on CEO turnover. Finally, being a founder does not guarantee a poor‐performing CEO a chairman position after being fired.\",\"PeriodicalId\":46986,\"journal\":{\"name\":\"Strategic Change-Briefings in Entrepreneurial Finance\",\"volume\":\"8 1\",\"pages\":\"0\"},\"PeriodicalIF\":3.6000,\"publicationDate\":\"2023-05-29\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Strategic Change-Briefings in Entrepreneurial Finance\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1002/jsc.2547\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Strategic Change-Briefings in Entrepreneurial Finance","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1002/jsc.2547","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Abstract We study the role of a company founder in the internal governance of firms. Using a sample of 484 CEO turnovers for 2000–2015, we establish that CEOs are fired for poor performance. However, the likelihood of a poor‐performing founder‐CEO being fired is lower than that of an outsider CEO. Moreover, having a founder as a member of the executive or supervisory board decreases the likelihood that a CEO will be dismissed for poor performance. Similarly, founder ownership may have the same effect on CEO turnover. Finally, being a founder does not guarantee a poor‐performing CEO a chairman position after being fired.
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