Abstract
Purpose – The purpose of this paper is to understand the conditions under which racial/ethnic minorities are promoted to top leadership positions in American corporations. In addition to testing the glass cliff theory for racial/ethnic minorities, the paper also develops and test two additional theoretical mechanisms: bold moves and the savior effect. While the glass cliff theory predicts racial/ethnic minorities will be promoted to struggling firms, the bold moves theory predicts the opposite, that racial/ethnic minorities will be promoted to strong firms. The savior effect predicts that minority CEOs will be replaced by white male leaders if firm performance struggles during their tenure. Design/methodology/approach – This paper relies on conditional logistic regression to analyze all CEO transitions among Fortune 500 companies over a 15-year period. Findings – Consistent with the bold moves thesis but contrary to the predictions of glass cliff theory, the results suggest that racial/ethnic minorities a...
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