主管:中国科学院
主办:中国优选法统筹法与经济数学研究会
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Chinese Journal of Management Science ›› 2014, Vol. 22 ›› Issue (8): 47-55.

• Articles • Previous Articles     Next Articles

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

LI Wei-ning, ZHANG Yi-ning   

  1. School of Business Management, South China University of Technology, Guang Zhou 510640, China
  • Received:2013-07-16 Revised:2014-03-06 Online:2014-08-20 Published:2014-08-23

Abstract: Based on Upper Echelons Perspective, key problems of previous researches on CEO succession are studied to analyze relationship among ST listed enterprises' new CEO characteristics, TMT adjustment and enterprise performance changes. We choose 110 CEO succession samples from listed enterprises which replace CEO from 2000 to 2010 are chosen in the empirical research,and it can be found 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 from internal can better improve long-term performance than CEO from external. 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.

Key words: CEO characteristics, top management team adjustment, enterprise performance changes

CLC Number: