Jalal, Abu M.; Prezas, Alexandros P. - In: Journal of Economics and Business 64 (2012) 6, pp. 399-426
We examine outside CEO succession for 528 firms during the period 1993–2009. Announcement-period returns are positive, but higher for firms hiring from within their industry than from a different industry. However, unlike the year following succession, firms hiring from a different industry...