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The Impacts of Followers' Power on CEO Dismissal:Newness and Outsiderness

Zhaojun Gao(Peking University Beijing 100871)

  Drawing on a power perspective,the study longitudinally examines the antecedents of CEO dismissal followed by inside succession in dual paths of CEO career.We examine the influence of followerspower on its predecessor CEO dismissals.The main conclusion is that the power of follower increases the likelihood of dismissal followed by inside succession.The liability of outsiderness is strengthened when followed by a more powerful successor.Our finding suggests the interest conflicts and competition within top management and highlights the joint effects of the followerspower on the liability of newness as well as the outsiderness.Evidence from a sample of 1,347 listed firms in China indicates that CEO follower ownership plays an important role on the dismissal CEO.……   
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