In this paper, we develop a simple general-equilibrium trade model in which heterogeneous workers make an investment decision in acquiring advanced managerial skills and choose their optimal effort level based on their own individual organizational beliefs and CEOś managerial vision. In doing...

This study examines leadership succession among university presidents. Strategy researchers have emphasized that changing leaders is an important organizational decision which is likely to affect the strategic direction of the organization (e.g. Hambrick/Fukutomi 1991). Using longitudinal data...