| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 1017368 | Journal of Business Research | 2013 | 7 Pages |
Abstract
This paper investigates the relationship between CEO turnovers and shareholder wealth and/or the volatility of firm performance, and examines whether CEO power matters in this relationship. Successors tend to possess less power than predecessors. The announcement effects of CEO turnovers present higher abnormal returns for turnovers in which predecessors and successors share a similar power level and a lower volatility for turnovers in which successors have less power. Volatility is lower and liquidity is higher when CEO turnovers involve successors with less power.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Business and International Management
Authors
Hsiu-I Ting,