AUTHOR=Sun Shujun , Jiang Haiwei 

TITLE=CEO turnover and corporate innovation: What can we learn from Chinese listed companies

JOURNAL=Frontiers in Psychology

VOLUME=Volume 13 - 2022

YEAR=2022

URL=https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2022.874907

DOI=10.3389/fpsyg.2022.874907

ISSN=1664-1078

ABSTRACT=Using data of China’s listed companies from 2000 to 2016, this paper employs the staggered difference-in-difference model to study the impact of CEO turnover on corporate innovation. First, listed companies with CEO turnover experienced an average increase of 9.5% in the quantity of innovation and 8.9% in innovation quality after the change. Second, CEO turnover plays a more significant role in promoting innovation for listed firms with CEO duality, high financial constraints, and in high-tech industries. Third, CEO turnover affects corporate innovation by driving top management team reorganization and promoting R&D input.