Outside directors and CEO turnover

  title={Outside directors and CEO turnover},
  author={M. Weisbach},
  journal={Journal of Financial Economics},
  • M. Weisbach
  • Published 1988
  • Business
  • Journal of Financial Economics
  • Abstract This paper examines the relation between the monitoring of CEOs by inside and outside directors and CEO resignations. CEO resignations are predicted using stock returns and earnings changes as measures of prior performance. There is a stronger association between prior performance and the probability of a resignation for companies with outsider-dominated boards than for companies with insider-dominated boards. This result does not appear to be a function of ownership effects, size… CONTINUE READING
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