“…While poor firm performance is positively related to CEO dismissal, other firm characteristics may affect the performance-dismissal relationship. Positive firm signals (e.g., engagement in corporate social responsibility) are attributed to the quality of leadership provided by CEOs and can insulate them from dismissal (Chen, Zhou, & Zhu, 2019; Chiu & Sharfman, 2018; Hubbard, Christensen, & Graffin, 2017). In contrast, negative firm signals (e.g., high leverage) weaken the CEO’s ability to resist calls for dismissal (Marshall, McCann, & McColgan, 2014).…”