메뉴 건너뛰기




Volumn 17, Issue 1, 2011, Pages 134-151

Can CEO dismissals be proactive?

Author keywords

Corporate governance; Firm performance; turnover

Indexed keywords


EID: 78649948646     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jcorpfin.2010.09.008     Document Type: Article
Times cited : (55)

References (40)
  • 1
    • 0004050003 scopus 로고
    • Event History Analysis: Regression for Longitudinal Event Data
    • Sage Publications
    • Allison P.D. Event History Analysis: Regression for Longitudinal Event Data. Sage University Paper 46 1984, Sage Publications.
    • (1984) Sage University Paper 46
    • Allison, P.D.1
  • 2
    • 0030194534 scopus 로고    scopus 로고
    • Detecting abnormal operating performance: the empirical power and specification of test statistics
    • Barber B.M., Lyon J.D. Detecting abnormal operating performance: the empirical power and specification of test statistics. J. Financ. Econ. 1996, 41:359-399.
    • (1996) J. Financ. Econ. , vol.41 , pp. 359-399
    • Barber, B.M.1    Lyon, J.D.2
  • 3
    • 0030305316 scopus 로고    scopus 로고
    • An empirical analysis of the relation between the board of director composition and financial statement fraud
    • Beasley M.S. An empirical analysis of the relation between the board of director composition and financial statement fraud. Acc. Rev. 1996, 71:443-465.
    • (1996) Acc. Rev. , vol.71 , pp. 443-465
    • Beasley, M.S.1
  • 4
    • 0031161696 scopus 로고    scopus 로고
    • Leadership structure: separating the CEO and chairman of the board
    • Brickley J.A., Coles J.L., Jarrell G. Leadership structure: separating the CEO and chairman of the board. J. Corp. Finance 1997, 3:189-220.
    • (1997) J. Corp. Finance , vol.3 , pp. 189-220
    • Brickley, J.A.1    Coles, J.L.2    Jarrell, G.3
  • 5
    • 77955171486 scopus 로고    scopus 로고
    • Institutional ownership and monitoring: evidence from financial misreporting
    • Burns N., Kedia S., Lipson M. Institutional ownership and monitoring: evidence from financial misreporting. J. Corp. Finance 2010, 16:443-455.
    • (2010) J. Corp. Finance , vol.16 , pp. 443-455
    • Burns, N.1    Kedia, S.2    Lipson, M.3
  • 6
    • 78649971430 scopus 로고    scopus 로고
    • Heterogeneous beliefs, short sale constraints, and the role of the underwriter in IPOs
    • Working Paper. Boston College and Northeastern University
    • Chemmanur, T.J., Krishnan, K., 2010. Heterogeneous beliefs, short sale constraints, and the role of the underwriter in IPOs. Working Paper. Boston College and Northeastern University.
    • (2010)
    • Chemmanur, T.J.1    Krishnan, K.2
  • 7
    • 70350173699 scopus 로고    scopus 로고
    • The going public decision and the product market.
    • Review of Financial Studies. Forthcoming.
    • Chemmanur, T.J., He, S., Nandy, D., 2009. The going public decision and the product market. Review of Financial Studies. Forthcoming.
    • (2009)
    • Chemmanur, T.J.1    He, S.2    Nandy, D.3
  • 8
    • 0001650996 scopus 로고    scopus 로고
    • Corporate governance, chief executive officer compensation, and firm performance
    • Core J.E., Holthausen R.W., Larcker D.F. Corporate governance, chief executive officer compensation, and firm performance. J. Financ. Econ. 1999, 51:371-406.
    • (1999) J. Financ. Econ. , vol.51 , pp. 371-406
    • Core, J.E.1    Holthausen, R.W.2    Larcker, D.F.3
  • 9
    • 0040925656 scopus 로고    scopus 로고
    • Executive compensation and corporate acquisition decisions
    • Datta S., Datta M.I., Raman K. Executive compensation and corporate acquisition decisions. J. Finance 2001, 56:2299-2336.
    • (2001) J. Finance , vol.56 , pp. 2299-2336
    • Datta, S.1    Datta, M.I.2    Raman, K.3
  • 10
    • 0347184573 scopus 로고    scopus 로고
    • Shareholder wealth effects of CEO departures: evidence from the UK
    • Dedman E., Lin S.W.-J. Shareholder wealth effects of CEO departures: evidence from the UK. J. Corp. Finance 2002, 8:81-104.
    • (2002) J. Corp. Finance , vol.8 , pp. 81-104
    • Dedman, E.1    Lin, S.W.-J.2
  • 11
    • 0442309558 scopus 로고    scopus 로고
    • Causal effect in non-experimental studies: re-evaluating the valuation of training programs
    • Dehejia R.H., Wahba S. Causal effect in non-experimental studies: re-evaluating the valuation of training programs. J. Am. Stat. Assoc. 1999, 94:1053-1062.
    • (1999) J. Am. Stat. Assoc. , vol.94 , pp. 1053-1062
    • Dehejia, R.H.1    Wahba, S.2
  • 12
    • 0036102924 scopus 로고    scopus 로고
    • Propensity score-matching methods for non-experimental causal studies
    • Dehejia R.H., Wahba S. Propensity score-matching methods for non-experimental causal studies. Rev. Econ. Stat. 2002, 84:151-161.
    • (2002) Rev. Econ. Stat. , vol.84 , pp. 151-161
    • Dehejia, R.H.1    Wahba, S.2
  • 13
    • 84993897491 scopus 로고
    • Performance changes following top management dismissals
    • Denis D.J., Denis D.K. Performance changes following top management dismissals. J. Finance 1995, 50:1029-1057.
    • (1995) J. Finance , vol.50 , pp. 1029-1057
    • Denis, D.J.1    Denis, D.K.2
  • 14
    • 0031211335 scopus 로고    scopus 로고
    • Ownership structure and top executive turnover
    • Denis D.J., Denis D.K., Sarin A. Ownership structure and top executive turnover. J. Financ. Econ. 1997, 45:193-221.
    • (1997) J. Financ. Econ. , vol.45 , pp. 193-221
    • Denis, D.J.1    Denis, D.K.2    Sarin, A.3
  • 15
    • 56349129204 scopus 로고    scopus 로고
    • Board compensation practices and agency costs of debt
    • Ertugrul M., Hegde S. Board compensation practices and agency costs of debt. J. Corp. Finance 2008, 14:512-531.
    • (2008) J. Corp. Finance , vol.14 , pp. 512-531
    • Ertugrul, M.1    Hegde, S.2
  • 16
    • 0040807288 scopus 로고    scopus 로고
    • The consequences of forced CEO succession for outside directors
    • Farrell K.A., Whidbee D.A. The consequences of forced CEO succession for outside directors. J. Bus. 2000, 73:597-627.
    • (2000) J. Bus. , vol.73 , pp. 597-627
    • Farrell, K.A.1    Whidbee, D.A.2
  • 17
    • 1342328634 scopus 로고    scopus 로고
    • Management turnover across the corporate hierarchy
    • Fee C.E., Hadlock C.J. Management turnover across the corporate hierarchy. J. Acc. Econ. 2004, 37:3-38.
    • (2004) J. Acc. Econ. , vol.37 , pp. 3-38
    • Fee, C.E.1    Hadlock, C.J.2
  • 18
    • 0142219286 scopus 로고    scopus 로고
    • Too busy to mind the business? Monitoring by directors with multiple board appointments
    • Ferris S.P., Jagannathan M., Pritchard A.C. Too busy to mind the business? Monitoring by directors with multiple board appointments. J. Finance 2003, 58:1087-1111.
    • (2003) J. Finance , vol.58 , pp. 1087-1111
    • Ferris, S.P.1    Jagannathan, M.2    Pritchard, A.C.3
  • 19
    • 78649938547 scopus 로고    scopus 로고
    • Are busy boards effective monitors?
    • Fich E., Shivdasani A. Are busy boards effective monitors?. J. Finance 2006, 78:2229-2253.
    • (2006) J. Finance , vol.78 , pp. 2229-2253
    • Fich, E.1    Shivdasani, A.2
  • 20
    • 78649948018 scopus 로고    scopus 로고
    • Governance and CEO turnover: Do something or do the right thing? Working paper, Harvard Business School
    • Fisman, R., Khurana, R., Rhodes-Kropf, M., 2005. Governance and CEO turnover: Do something or do the right thing? Working paper, Harvard Business School.
    • (2005)
    • Fisman, R.1    Khurana, R.2    Rhodes-Kropf, M.3
  • 21
    • 0037332214 scopus 로고    scopus 로고
    • Corporate governance and equity prices
    • Gompers P., Ishii J., Metrick A. Corporate governance and equity prices. Q. J. Econ. 2003, 118:107-155.
    • (2003) Q. J. Econ. , vol.118 , pp. 107-155
    • Gompers, P.1    Ishii, J.2    Metrick, A.3
  • 22
    • 0037788737 scopus 로고    scopus 로고
    • Board leadership structure and CEO turnover
    • Goyal V.K., Park C.W. Board leadership structure and CEO turnover. J. Corp. Finance 2002, 8:49-66.
    • (2002) J. Corp. Finance , vol.8 , pp. 49-66
    • Goyal, V.K.1    Park, C.W.2
  • 23
    • 0001313011 scopus 로고    scopus 로고
    • The homogenization and differentiation of hate crime law in the United States, 1978 to 1995: Innovation and diffusion in the criminalization of bigotry
    • Grattet R.E.A., Jenness V., Curry T.R. The homogenization and differentiation of hate crime law in the United States, 1978 to 1995: Innovation and diffusion in the criminalization of bigotry. Am. Sociol. Rev. 1998, 63:286-307.
    • (1998) Am. Sociol. Rev. , vol.63 , pp. 286-307
    • Grattet, R.E.A.1    Jenness, V.2    Curry, T.R.3
  • 24
    • 0038309562 scopus 로고    scopus 로고
    • Takeover bids and target directors' incentives: the impact of a bid on directors' wealth and board seats
    • Harford J. Takeover bids and target directors' incentives: the impact of a bid on directors' wealth and board seats. J. Financ. Econ. 2003, 69:51-83.
    • (2003) J. Financ. Econ. , vol.69 , pp. 51-83
    • Harford, J.1
  • 25
    • 0348194856 scopus 로고    scopus 로고
    • Endogenously chosen boards of directors and their monitoring of the CEO
    • Hermalin B.E., Weisbach M.S. Endogenously chosen boards of directors and their monitoring of the CEO. Am. Econ. Rev. 1998, 88:96-118.
    • (1998) Am. Econ. Rev. , vol.88 , pp. 96-118
    • Hermalin, B.E.1    Weisbach, M.S.2
  • 27
    • 78649956958 scopus 로고    scopus 로고
    • CEO turnover and relative performance evaluation. Working paper, Stanford University.
    • Jenter, D., Kanaan, F., 2006. CEO turnover and relative performance evaluation. Working paper, Stanford University.
    • (2006)
    • Jenter, D.1    Kanaan, F.2
  • 28
    • 78649937801 scopus 로고    scopus 로고
    • How has CEO turnover changed? Working paper, University of Chicago.
    • Kaplan, S., Minton, B., 2010. How has CEO turnover changed? Working paper, University of Chicago.
    • (2010)
    • Kaplan, S.1    Minton, B.2
  • 30
    • 68349158748 scopus 로고    scopus 로고
    • The effects and unintended consequences of the Sarbanes-Oxley Act on the supply and demand for directors
    • Linck J.S., Netter J.M., Yang T. The effects and unintended consequences of the Sarbanes-Oxley Act on the supply and demand for directors. Rev. Financ. Stud. 2009, 22:3287-3328.
    • (2009) Rev. Financ. Stud. , vol.22 , pp. 3287-3328
    • Linck, J.S.1    Netter, J.M.2    Yang, T.3
  • 31
    • 0039054770 scopus 로고    scopus 로고
    • The operating performance of firms conducting seasoned equity offerings
    • Loughran T., Ritter J.R. The operating performance of firms conducting seasoned equity offerings. J. Finance 1997, 52:1823-1850.
    • (1997) J. Finance , vol.52 , pp. 1823-1850
    • Loughran, T.1    Ritter, J.R.2
  • 32
    • 0031285004 scopus 로고    scopus 로고
    • Policy entrepreneurs and the diffusion of innovation
    • Mintrom M. Policy entrepreneurs and the diffusion of innovation. Am. J. Polit. Sci. 1997, 41:738.
    • (1997) Am. J. Polit. Sci. , vol.41 , pp. 738
    • Mintrom, M.1
  • 33
    • 33645896609 scopus 로고
    • Management ownership and market valuation: an empirical analysis
    • Morck R., Shleifer A., Vishny R. Management ownership and market valuation: an empirical analysis. J. Financ. Econ. 1988, 20:293-315.
    • (1988) J. Financ. Econ. , vol.20 , pp. 293-315
    • Morck, R.1    Shleifer, A.2    Vishny, R.3
  • 34
    • 0031280670 scopus 로고    scopus 로고
    • CEO turnover and outside succession: a cross-sectional analysis
    • Parrino R. CEO turnover and outside succession: a cross-sectional analysis. J. Financ. Econ. 1997, 46:165-197.
    • (1997) J. Financ. Econ. , vol.46 , pp. 165-197
    • Parrino, R.1
  • 35
    • 0038803428 scopus 로고    scopus 로고
    • Incentive compensation for outside directors and CEO turnover
    • Working paper, Arizona State University
    • Perry, T., 2000. Incentive compensation for outside directors and CEO turnover. Working paper, Arizona State University.
    • (2000)
    • Perry, T.1
  • 36
    • 0001475438 scopus 로고
    • Board composition, ownership structure, and hostile takeovers
    • Shivdasani A. Board composition, ownership structure, and hostile takeovers. J. Acc. Econ. 1993, 16:167-198.
    • (1993) J. Acc. Econ. , vol.16 , pp. 167-198
    • Shivdasani, A.1
  • 37
    • 0008104389 scopus 로고    scopus 로고
    • Forecasting bankruptcy more accurately: a simple hazard model
    • Shumway T. Forecasting bankruptcy more accurately: a simple hazard model. J. Bus. 2001, 74:101-124.
    • (2001) J. Bus. , vol.74 , pp. 101-124
    • Shumway, T.1
  • 38
    • 0001155473 scopus 로고    scopus 로고
    • Board meeting frequency and firm performance
    • Vafeas N. Board meeting frequency and firm performance. J. Financ. Econ. 1999, 53:113-142.
    • (1999) J. Financ. Econ. , vol.53 , pp. 113-142
    • Vafeas, N.1
  • 39
    • 33845790377 scopus 로고
    • Outside directors and CEO turnover
    • Weisbach M.S. Outside directors and CEO turnover. J. Financ. Econ. 1988, 20:431-460.
    • (1988) J. Financ. Econ. , vol.20 , pp. 431-460
    • Weisbach, M.S.1
  • 40
    • 0030078208 scopus 로고    scopus 로고
    • Higher market valuation of companies with a small board of directors
    • Yermack D. Higher market valuation of companies with a small board of directors. J. Financ. Econ. 1996, 40:185-211.
    • (1996) J. Financ. Econ. , vol.40 , pp. 185-211
    • Yermack, D.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.