WHAT'S ALL THAT (STRATEGIC) NOISE? AN EXAMINATION OF ANTICIPATORY OBFUSCATION IN CEO SUCCESSIONS.
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We extend impression management theory by developing and testing the theoretical notion of strategic noise, which refers to an impression management activity that is preemptive, anticipatory, and obfuscatory. Strategic noise represents a form of impression management where a firm seeks preemptively manage stakeholder impressions of a focal event by releasing information about other significant events simultaneously. We test our theory in the context of CEO successions, and find that such announcements are noisier than would be suggested by chance and that strategic noise is positively associated with: outgoing CEO tenure, the outgoing CEO-TMT pay gap, and prior firm stock performance.
author list (cited authors)
GRAFFIN, S., CARPENTER, M., & BOIVIE, S.
complete list of authors
GRAFFIN, SCOTT||CARPENTER, MASON||BOIVIE, STEVEN