CEO Succession, Honing, and Enterprising: A Promising Way to Achieve Small Business Performance?
Journal of Developmental Entrepreneurship, Vol. 13, No. 2, pp. 117-132, 2008
Posted: 25 Apr 2010
Date Written: June 1, 2008
Abstract
This study examines CEO succession in small firms and the impact of CEO honing and enterprising competence on firm performance within a contingency framework. In a study of 162 small firms, we hypothesize that a newly appointed CEO will bring entrepreneurship to its small firms, but the results do not support this. Instead, the results indicate that a new CEO tends to introduce honing in the firm. Only CEO market enterprising had a direct relation to better performance. However, we find several instances of moderation effects attributable to strategic competence, environmental uncertainty, and the nature of tasks in the company.
Keywords: CEO succession, honing, enterprising, contingency, performance
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