In particular, the team was interested in the performance effect of overconfidence of incumbent CEOs versus successor CEOs, which they studied mainly using US panel data following the key event of a severe firm level crisis. A key finding is the overconfidence has positive effects for CEO successors, while it entails detrimental ones for CEOs that lead firms into the crisis. The team of young scientists theorizes on this coherence and finds supportive evidence in underlying mechanisms and firm performance. This research is now accepted for publication at the Journal of Management Studies. The Journal of Management Studies is a leading peer-reviewed academic journal that was established in 1963 and is included in the prestigious Financial Times 50 journal list. The journal publishes both conceptual and empirical papers in the field of management. Specific areas of focus include, organizational theory and behaviour, strategic management, human resource management, and cross-cultural comparisons of organizational effectiveness.