“Our main results show that the exogenous change from
a founder CEO to a professional CEO is associated with a 43.8% decrease in a firm's citation-weighted
patent count, even when controlling for R&D expenditures…Our
analyses show that founder-CEO-managed firms are more likely to generate
innovations at the both tails of innovations’ quality distribution…and
explorative patents than professional-CEO-managed firms” https://www.sciencedirect.com/science/article/pii/S0048733319301817
