Succession Effects in Radically Different Environments: A Study in Turkish Banking before and after Liberalization

This study examines the consequences of managerial succession in the banking sector of a highly interventionist and autarchic economy that has then attempted to move towards liberalization and internationalization. Results, as hypothesized, show that immediate outcomes of succession were more negative in the extremely turbulent conditions of politico-economic transition than in the controlled and stable environment. Likewise, relative to the immediate aftermath of succession managerial longevity was associated with less positive outcomes in the former conditions than in the latter.