CEO SUCCESSION, HONING, AND ENTERPRISING: A PROMISING WAY TO ACHIEVE SMALL BUSINESS PERFORMANCE?
Vol. Volume 13, Number 2 June/2008
MATS WESTERBERG and JOAKIM WINCENT
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.
CEO succession, honing, enterprising, contingency, performance