Take Action

Home | Faculty & Research Overview | Research

Research Details

Political dynamics and the circulation of power: CEO succession in US industrial firms, 1960-1990, Administrative Science Quarterly

Abstract

To explain patterns of political dynamics, this paper develops a model of the circulation of power and compares it with an alternative model, the institutionalization of power, in an event history analysis of CEO succession. The circulation of power emphasizes the internal contests for control and opposition to the CEO that emerge with increased executive tenure and under conditions of economic adversity. The study finds support for an increasing rate of CEO succession during the first decade of tenure, consistent with the model of circulation, followed by a slow decline afterward, consistent with institutionalization. The effects of economic adversity were found to trigger circulation when combined with long prior board tenure and large board size. Also, contrary to conventional views, under economic adversity, more inside board members increase CEO succession.

Type

Article

Author(s)

William Ocasio

Date Published

1994

Citations

Ocasio, William. 1994. Political dynamics and the circulation of power: CEO succession in US industrial firms, 1960-1990. Administrative Science Quarterly. 39(2): 285-312.

KELLOGG INSIGHT

Explore leading research and ideas

Find articles, podcast episodes, and videos that spark ideas in lifelong learners, and inspire those looking to advance in their careers.
learn more

COURSE CATALOG

Review Courses & Schedules

Access information about specific courses and their schedules by viewing the interactive course scheduler tool.
LEARN MORE

DEGREE PROGRAMS

Discover the path to your goals

Whether you choose our Full-Time, Part-Time or Executive MBA program, you’ll enjoy the same unparalleled education, exceptional faculty and distinctive culture.
learn more

Take Action