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Are CEOs replaced for poor performance?: effects of takeovers and governance on CEO turnover

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Are CEOs replaced for poor performance? effects of takeovers and governance on CEO turnover. / Homroy, Swarnodeep.
In: Scottish Journal of Political Economy, Vol. 62, No. 2, 05.2015, p. 149-170.

Research output: Contribution to Journal/MagazineJournal articlepeer-review

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Homroy S. Are CEOs replaced for poor performance? effects of takeovers and governance on CEO turnover. Scottish Journal of Political Economy. 2015 May;62(2):149-170. Epub 2015 Apr 1. doi: 10.1111/sjpe.12068

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Homroy, Swarnodeep. / Are CEOs replaced for poor performance? effects of takeovers and governance on CEO turnover. In: Scottish Journal of Political Economy. 2015 ; Vol. 62, No. 2. pp. 149-170.

Bibtex

@article{0068a2fac6aa4236a366cfb3b7c005a5,
title = "Are CEOs replaced for poor performance?: effects of takeovers and governance on CEO turnover",
abstract = "This article analyzes the risk of CEO turnover in US firms over the period 1993–2011. There is an increase in the CEO turnover rate and a 41% decline in median tenure. Where firm performance is poor, CEOs are increasingly replaced, either by the board or in the process of the firm being taken over. US corporate governance regulations had some success in mitigating the agency problem. In the wake of those reforms, CEO turnover outcomes are more strongly associated with firm performance. The declining CEO tenure may have structural impacts on CEO pay.",
author = "Swarnodeep Homroy",
year = "2015",
month = may,
doi = "10.1111/sjpe.12068",
language = "English",
volume = "62",
pages = "149--170",
journal = "Scottish Journal of Political Economy",
issn = "0036-9292",
publisher = "Wiley-Blackwell",
number = "2",

}

RIS

TY - JOUR

T1 - Are CEOs replaced for poor performance?

T2 - effects of takeovers and governance on CEO turnover

AU - Homroy, Swarnodeep

PY - 2015/5

Y1 - 2015/5

N2 - This article analyzes the risk of CEO turnover in US firms over the period 1993–2011. There is an increase in the CEO turnover rate and a 41% decline in median tenure. Where firm performance is poor, CEOs are increasingly replaced, either by the board or in the process of the firm being taken over. US corporate governance regulations had some success in mitigating the agency problem. In the wake of those reforms, CEO turnover outcomes are more strongly associated with firm performance. The declining CEO tenure may have structural impacts on CEO pay.

AB - This article analyzes the risk of CEO turnover in US firms over the period 1993–2011. There is an increase in the CEO turnover rate and a 41% decline in median tenure. Where firm performance is poor, CEOs are increasingly replaced, either by the board or in the process of the firm being taken over. US corporate governance regulations had some success in mitigating the agency problem. In the wake of those reforms, CEO turnover outcomes are more strongly associated with firm performance. The declining CEO tenure may have structural impacts on CEO pay.

U2 - 10.1111/sjpe.12068

DO - 10.1111/sjpe.12068

M3 - Journal article

VL - 62

SP - 149

EP - 170

JO - Scottish Journal of Political Economy

JF - Scottish Journal of Political Economy

SN - 0036-9292

IS - 2

ER -