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Relationship Among New CEO’s Characteristics, TMT Adjustment and Performance—Empirical Study Based on ST Listed Enterprises

In: Proceedings of 2013 4th International Asia Conference on Industrial Engineering and Management Innovation (IEMI2013)

Author

Listed:
  • Wei-ning Li

    (South China University of Technology)

  • Yi-ning Zhang

    (South China University of Technology)

Abstract

Based on Upper Echelons Perspective, this study focuses on key problems from previous researches on CEO succession, to analyze relationship among ST listed enterprises’ new CEO characteristics, TMT adjustment and enterprise performance changes. We choose 108 CEO succession samples from listed enterprises which replaced CEO from 2000 to 2009, then find that new CEO age and education level have significant positive effects on enterprise short-term performance changes. New CEO without working experience as CEO can better improve short-term performance than the CEO with relevant experience. New CEO generated internally can better improve long-term performance than CEO generated externally. TMT adjustment has a significant positive effect on short-term performance changes, but new CEO’s characteristics have no significant effect on TMT adjustment. This study provides a new perspective for researches about transformation strategy of performance declined enterprises, and also provides a basis for Chinese enterprises to select and replace CEO.

Suggested Citation

  • Wei-ning Li & Yi-ning Zhang, 2014. "Relationship Among New CEO’s Characteristics, TMT Adjustment and Performance—Empirical Study Based on ST Listed Enterprises," Springer Books, in: Ershi Qi & Jiang Shen & Runliang Dou (ed.), Proceedings of 2013 4th International Asia Conference on Industrial Engineering and Management Innovation (IEMI2013), edition 127, pages 319-329, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-40060-5_31
    DOI: 10.1007/978-3-642-40060-5_31
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