... on UK firms, highlighting context-specific dynamics in CEO succession and risk-taking behaviour. Thus, we argue that the effectiveness of executive compensation in influencing a new CEO’s strategy within the organization is not solely determined by their tenure but is intricately tied to their level...

... of the resource-based view. Design/methodology/approach The research model uses a large panel data set of 2,364 UK firms over the period 2000–2010 and uses alternative specifications of the model to improve robustness. Findings The results show that the industry experience of major shareholders as a proxy...