Introduction -- Regulation -- Theory -- Chairperson Succession Planning -- Methodology and Empirical Research -- Qualitative Paradigm -- Quantitative Paradigm -- Research Contribution and Conclusion -- References.

We present causal evidence of an important yet less explored channel for board of directors to enhance firm value, namely by building, maintaining and disclosing a CEO succession plan. Using a new dataset of 9,084 CEOs and hand-collected information of succession plans, we exploit two regulatory...