Empirical research on CEO turnover and firm-performance: a discussion
@article{Brickley2003EmpiricalRO, title={Empirical research on CEO turnover and firm-performance: a discussion}, author={James A. Brickley}, journal={Journal of Accounting and Economics}, year={2003}, volume={36}, pages={227-233} }
265 Citations
CEO Turnover: More Evidence on the Role of Performance Expectations
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Previous research on CEO turnover indicates that a number of factors, including age, firm performance, and expected firm performance affect CEO turnover. Measurement of expected performance in these…
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Many studies examine the relation between stock performance and CEO characteristics. We approach the topic in a different way, using the alphas generated by the Fama‐French three‐factor model as the…
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Abstract We propose and test a new explanation for forced CEO turnover, and examine its implications for the impact of firm performance on CEO turnover. Investors may disagree with management on…
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- 2006
In this study we are the first to draw on longitudinal matched employer-employee data to study CEO turnover. Using this data we contribute to the existing literature by examining the effect of…
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The characteristics of chairman has been widely discussed since the introduction of the Cadbury Report. However, most discussions are related to separation chairman and CEO. Therefore, this study…
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I evaluate the forced CEO turnover rate and quantify effects on shareholder value by estimating a dynamic model. The model features learning about CEO ability and costly turnover. To fit the observed…
References
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The Impact of Firm Performance Expectations on CEO Turnover and Replacement Decisions
- Business
- 2003
Our analysis suggests that boards focus on deviation from expected performance, rather than performance alone, in making the CEO turnover decision, especially when there is agreement (less…
CEO Turnover and Properties of Accounting Information
- Business, Economics
- 2003
Multiple-performance-measure agency models predict that optimal contracts should place greater reliance on performance measures that are more precise and more sensitive to the agent's effort. We…
Executive compensation, management turnover, and firm performance: An empirical investigation
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Managerial Incentives in Nonprofit Organizations: Evidence from Hospitals*
- Economics, BusinessThe Journal of Law and Economics
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This paper examines the incentives of chief executive officers (CEOs) in a large sample of nonprofit hospitals. The evidence indicates that both turnover and compensation of these CEOs are…