Ceo career variety: Effects on firm-level strategic and social novelty

Craig Crossland, Jinyong Zyung, Nathan J. Hiller, Donald C. Hambrick

Research output: Contribution to journalArticle

92 Scopus citations

Abstract

We introduce the concept of "CEO career variety" - defined as the array of distinct professional and institutional experiences an executive has had prior to becoming CEO. Using a longitudinal sample of Fortune 250 CEOs, we hypothesize, and find strong evidence for the assertion, that CEO career variety is positively associated with firm-level strategic novelty - manifested in strategic dynamism (period-on-period change) and strategic distinctiveness (deviance from industry central tendencies). We also find mixed evidence that CEO career variety is positively associated with social novelty - manifested in top management team turnover and heterogeneity.

Original languageEnglish (US)
Pages (from-to)652-674
Number of pages23
JournalAcademy of Management Journal
Volume57
Issue number3
DOIs
StatePublished - Jun 1 2014

All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation

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