CEO tenure and firm growth: A conditional analysis

Publication Type:
Journal Article
Citation:
Economics Bulletin, 2017, 37 (4), pp. 2301 - 2308
Issue Date:
2017-01-01
Full metadata record
This paper investigates the influence that CEO tenure may have on firm growth. We hypothesize that the effect of CEO tenure is conditional on the firm's growth rate. The empirical analysis reveals that the effect on growth is negative in high-growth firms and positive in low-growth firms. These findings are consistent with the view that long CEO tenure is beneficial in a more stable environment, but detrimental under rapidly-changing circumstances.
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