Venture Capitalist and CEO Dismissal

Garry Bruton, Vance Fried and Robert D. Hisrich

Entrepreneurship Theory and Practice, 1997, vol. 21, issue 3, 41-54

Abstract: This exploratory research utilized a nationwide survey to examine CEO dismissals by boards of directors on which venture capitalists serve. The findings demonstrate that it is a CEO's failure in strategic concerns, rather than operational ones, that typically lead to CEO dismissal. In addition, replacing a CEO typically has a strong positive effect on new venture performance. These performance gains are not significantly different if replacement CEOs are internal or external to the venture.

Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:21:y:1997:i:3:p:41-54

DOI: 10.1177/104225879702100303

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