EXECUTIVE SUCCESSION AND STRATEGIC CHANGE IN JAPAN

• 成果类型: Article
• 署名作者: Nakauchi, Motohiro; Wiersema, Margarethe F.
• 署名单位: Toyo University; University of California System; University of California Irvine
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.2255
• 发表日期: 2015
• 页码: 298-306
• 关键词: CORPORATE GOVERNANCE; STRATEGIC CHANGE; EXECUTIVE SUCCESSION; JAPAN

摘要

Scholars studying upper echelons have found that executive succession can serve as an important adaptation mechanism. The bulk of these findings, however, derive from market-based governance settings, which raises an issue of contextual robustness. This study examines this issue by investigating the link between executive succession and strategic change in Japan, a context noted for relatively weak market-based corporate governance and lack of board independence. We find a greater likelihood of strategic change after non-routine executive succession, with the extent of change unaffected by firm performance. Routine succession in the case of a powerful prior president leads to less post-succession strategic change. Copyright (c) 2014 John Wiley & Sons, Ltd.