Turnover by Non-CEO Executives in Top Management Teams and Escalation of Commitment
Dmitriy Chulkov
Abstract:This article investigates the relationship between the decision-making bias known as escalation of commitment and the turnover of non-CEO executives in top management teams. The phenomenon of escalation of commitment is observed when decision makers persist with business investments that have a low likelihood of success. Theoretical explanations for the association between executive turnover and escalation include self-justification and reputation protection. Top managers may conceal prior errors, escalate com… Show more
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