Quantile regression shows that CEO tenure influences firm performance in varying company phases, suggesting tailored leadership choices.
Literature about the relationship between the chief executive officer (CEO) longevity and the firm's profitability is traditionally focused - with mixed results - on CEO's seasons, trying to assess their different impact on the firm's performance (as a whole). The present study investigates CEO tenure contribution to different companies' (performance) seasons. Using quantile regression, we show that CEO tenure impact on firm performance is possibly not uniform cross-sectionally, demonstrating that the one (CEO tenure) size fits all (firm's performance stages) approach is not applicable. Our research fuels the topic-related scholars' debate and could help shareholders choose the appropriate leadership for the corresponding company phase.
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Tommasetti et al. (2026) studied this question.
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