Factors of CEO Failure: Mapping the Debate

60 Pages Posted: 24 Feb 2010 Last revised: 3 May 2010

See all articles by Guido Stein

Guido Stein

University of Navarra - IESE Business School

Javier Capapé

IE University

Date Written: June 30, 2009


The failure of the CEO has been studied at great length in the literature. We order and classify the factors that lead to CEO failure into those a CEO can influence (endogenous) and those that are given (exogenous). The absence of unanimity in the literature leads us to concluye that limited attention has been paid to the main factor: the personal characteristics of CEOs. The agency approach and method are insufficient to understand leadesrship perfomance in organizations, due to the oversimplified view of human nature on which they are based and their heavy reliance on mathematical modeling.

Note: Downloadable document is in Spanish.

Keywords: CEO, turnover, corporate governance, agency theory, business ethics, succession

JEL Classification: M51, M52, M54, G34, G39

Suggested Citation

Stein, Guido and Capapé Aguilar, Javier, Factors of CEO Failure: Mapping the Debate (June 30, 2009). IESE Business School Working Paper No. ES-85, Available at SSRN: https://ssrn.com/abstract=1427834 or http://dx.doi.org/10.2139/ssrn.1427834

Guido Stein

University of Navarra - IESE Business School ( email )

Avenida Pearson 21
Barcelona, 08034

Javier Capapé Aguilar (Contact Author)

IE University ( email )

Calle Maria de Molina 6
Madrid, Madrid 28006

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