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Dimitrios Georgakakis
Title
Prof. Dr.
Last Name
Georgakakis
First name
Dimitrios
Email
dimitrios.georgakakis@unisg.ch
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1 - 3 of 3
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PublicationCEO Succession Origin and Firm Performance: A Multilevel StudyThere has been much controversy concerning the relationship between outside CEO succession origin and firm performance. Some scholars take the organizational-adaptation view to highlight the benefits of outside succession; yet others adopt the organizational-disruption view to pose the selection of an outsider CEO as a disruptive and disadvantageous event for organizations. In this study, we develop an integrated multilevel framework that reconciles these opposing perspectives and examines the conditions under which the benefits of outside CEO succession outweigh the costs. Data from 109 CEO succession events in large international firms show that the performance advantages of outside succession materialize when the new CEO: (a) socio-demographically resembles incumbent executives, (b) possesses variety of experience, and (c) is hired by a well-performing firm operating in a munificent industry. Overall, our research demonstrates that the performance implications of new CEO origin should not be considered in isolation, but in interaction with multilevel characteristics.Type: journal articleJournal: Journal of management studies : JMSVolume: 54Issue: 1DOI: 10.1111/joms.12194
Scopus© Citations 98 -
PublicationCEO Succession and Firm PerformanceWAVES AND WINDS OF STRATEGIC LEADERSHIP FOR SUSTAINABLE COMPETITIVENESSType: conference paper
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PublicationNew CEO origin and firm performance: Moderating effects of CEO similarity and career experienceThis paper seeks a better understanding of the performance implication of CEO succession origin. Drawing on relational demography and information processing theories, we propose that the benefits of outside succession are more likely to outweigh the costs when the outsider CEO: a) is socio-demographically similar to other executive team members and b) has acquired diverse experience from various countries and functional areas throughout his or her career. Data from 97 CEO succession events at large European corporations over a five years period (i.e. 2005 to 2009) show that both socio-demographic similarity and intra-personal career experience diversity of newly appointed CEOs act as optimizing factors that reduce the costs and increase the benefits of outside CEO succession. More generally, our research suggests that the performance effects of CEO succession origin should not be considered in isolation, but in interaction with other individual level attributes of newly appointed CEOs.Type: conference paper