Thomas Geelen
Institution
Pennsylvania State University
PhD Year
2018
geelen@psu.edu
FTG Membership
Member
Website
https://www.thomasgeelen.com/
Featured Work
Jul 1, 2025
Succession
Managing CEO succession is one of the board’s most important tasks. We develop a dynamic model of CEO succession to analyze executive hiring, firing, and entrenchment. The board learns about the CEO’s and successor’s ability and can decide to replace the executives internally or externally. Our model explains the board’s preference towards internal CEO successions, which become more likely with more efficient executive labor markets....
