MYTH OR REALITY? UNVEILING THE EFFECTIVENESS OF HIERARCHICAL CEO SUCCESSION ON FIRM PERFORMANCE AND CASH HOLDINGS

The objective of the study is to contemplate effectiveness hierarchical CEO succession and intensity on SOEs & Non-SOEs performance separately. Meanwhile, impact cash holdings has also been analysed. authenticated data accumulated from CSMAR for years 2012-2016 contemplating listed companies (SOE separately while overall holdings) Shenzhen Shanghai stock exchanges. Through categorization succession, it signified that middle-level elevates performance. In contrast, middle high-level mitigate holdings. Conclusively, earning management as a moderator analysed deducing reduces despite firms involving activity which ultimately beneficial firms’ growth. empirical results are robust alternate technique 2SLS instrumental regression controls endogeneity.