What Happens to CEOs After They Retire? New Evidence on Career Concerns, Horizon Problems, and CEO Incentives

@article{Brickley1998WhatHT,
  title={What Happens to CEOs After They Retire? New Evidence on Career Concerns, Horizon Problems, and CEO Incentives},
  author={James A. Brickley and J. Coles and James S. Linck},
  journal={Labor eJournal},
  year={1998}
}
  • James A. Brickley, J. Coles, James S. Linck
  • Published 1998
  • Economics
  • Labor eJournal
  • This paper provides evidence on a previously unidentified source of managerial incentives: concerns about post-retirement board service. Both the likelihood that a retired CEO serves on his own board two years after departure, as well as the likelihood of serving as an outside director on other boards, are positively and strongly related to his performance while CEO. Retention on the CEO's own board depends primarily on stock returns, while service on outside boards is better explained by… CONTINUE READING
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