Journal Article10.1016/0304-405X(88)90053-0
Outside directors and CEO turnover
4.8K
TL;DR: This article examined the relation between the monitoring of CEOs by inside and outside directors and CEO resignations using stock returns and earnings changes as measures of prior performance, and found that there is a stronger association between prior performance and the probability of a resignation.
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About: This article is published in Journal of Financial Economics. The article was published on 01 Jan 1988. The article focuses on the topics: CEO succession & Management entrenchment.
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Citations
Corporate Governance and Control
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Organizational Complexity and Succession Planning
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Does the Rolodex Matter? Corporate Elite's Small World and the Effectiveness of Boards of Directors
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Corporate Governance and Firm Diversification
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Are institutional investors with multiple blockholdings effective monitors
TL;DR: In this paper, the authors examine whether institutions' monitoring effectiveness is related to the number of their blockholdings and find that institutions' performance is positively associated with forced chief executive officer (CEO) turnover-performance sensitivity, abnormal returns around forced CEO turnover announcements and 13D filings, and changes in firm value.
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Eugene F. Fama,Michael C. Jensen +1 more
TL;DR: The authors argue that the separation of decision and risk-bearing functions observed in large corporations is common to other organizations such as large professional partnerships, financial mutuals, and nonprofits. But they do not consider the role of decision agents in these organizations.
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Linear statistical inference and its applications
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TL;DR: Algebra of Vectors and Matrices, Probability Theory, Tools and Techniques, and Continuous Probability Models.
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