CEO CAREER VARIETY: EFFECTS ON FIRM-LEVEL STRATEGIC AND SOCIAL NOVELTY

CEO CAREER VARIETY: EFFECTS ON FIRM-LEVEL STRATEGIC AND SOCIAL NOVELTY

We introduce the concept of "CEO career variety"—defined as the array of distinct professional and institutional experiences an executive has had prior to becoming CEO. Using a longitudinal sample of Fortune 250 CEOs, we hypothesize, and find strong evidence for the assertion, that CEO car...

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Veröffentlicht in:Academy of Management journal 2014-06, Vol.57 (3), p.652-674
Hauptverfasser: CROSSLAND, CRAIG, ZYUNG, JINYONG, HILLER, NATHAN J., HAMBRICK, DONALD C.
Format: Artikel
Sprache:eng
Schlagworte:
Business entities
Business risks
Careers
Change management
Chief executive officers
Cognition
Corporate strategies
Employee turnover
Human resources
Industrial sectors
Industry
Longitudinal studies
Management science
Process management
Senior management
Studies
Teamwork
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Zusammenfassung:We introduce the concept of "CEO career variety"—defined as the array of distinct professional and institutional experiences an executive has had prior to becoming CEO. Using a longitudinal sample of Fortune 250 CEOs, we hypothesize, and find strong evidence for the assertion, that CEO career variety is positively associated with firm-level strategic novelty—manifested in strategic dynamism (period-on-period change) and strategic distinctiveness (deviance from industry central tendencies). We also find mixed evidence that CEO career variety is positively associated with social novelty—manifested in top management team turnover and heterogeneity.
ISSN:0001-4273
1948-0989
DOI:10.5465/amj.2012.0469