The Origin of Chief Executive Officers and Performance in Hybrid Businesses: The Case of Microfinance

Roy Mersland, Leif Atle Beisland and Daudi Pascal
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Roy Mersland: UIA - University of Agder

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Abstract: This study examines the relationship between the origin of chief executive officers and performance in hybrid businesses using a sample of 353 microfinance institutions from 76 countries during 1996-2011. The statistical results suggest that microfinance institutions whose chief executive officers have been recruited internally perform better compared to institutions with externally-hired chief executive officers. The findings are consistent with the view that insider chief executive officers have firm-specific skills, experience and network resources that result in enhanced performance in hybrid businesses. Therefore, boards of microfinance institutions searching for a new chief executive officer should look for suitable internal candidates.

Date: 2019
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Published in Journal of Small Business Management, 2019, 57 (4), pp.1578-1594. ⟨10.1111/jsbm.12381⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05221024

DOI: 10.1111/jsbm.12381

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