How does CEO tenure matter? The mediating role of firm-employee and firm-customer relationships

• 成果类型: Article
• 署名作者: Luo, Xueming; Kanuri, Vamsi K.; Andrews, Michelle
• 署名单位: Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Fudan University; University of Missouri System; University of Missouri Columbia
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.2112
• 发表日期: 2014
• 页码: 492-511
• 关键词: performance volatility; CEO TENURE; firm performance; employee relationships; customer relationships

摘要

While the direct influence of CEO tenure on firm performance has been examined in the strategy literature, the underlying channels of influence have remained largely unexplored. This article draws upon the career seasons paradigm, learning perspectives, and marketing literature to examine whether firm-employee and firm-customer relationships are the pathways through which CEO tenure influences firm performance. Results from the analysis of a large data set reveal that: (1) CEO tenure has a positive and linear association with firm-employee relationship strength but an inverted U-shaped association with firm-customer relationship strength; (2) industry uncertainty intensifies these associations; and (3) firm-employee and firm-customer relationship strength mediate the effects of CEO tenure on firm performance. These findings have implications for a more balanced and nuanced view of CEO tenure. Copyright (c) 2013 John Wiley & Sons, Ltd.