Zmiana zarządzającego a wyniki finansowe spółki – przegląd wybranych badań
Managerial Change and Company Operating Performance – the Review of Research Results

Summary/Abstract: Purpose – The purpose of the article was to review research results of the relation between CEO succession and firm performance. Design/methodology/approach – The literature study related to the CEO succession and operating performance before and after the event in developed markets was performed. Findings – Results of literature study in the developed markets indicate that an decrease in operating performance is observed before the CEO change. The CEO succession is followed by an increase in operating performance, especially in the case of forced changes. An external CEO operates more effectively in comparison to an internal one. Research result how the gender of CEO could impact company performance are not clear. Originality/value – There is a literature gap addressing CEO changes and operating as well market performance in the Polish capital market. The literature review and observations made in developed markets are the basis for the application and exploration of similar correlations among the Polish public companies

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