CEO RETENTION, FIRM PERFORMANCE AND CORPORATE GOVERNANCE

被引：35
|
作者：
FIZEL, JL
LOUIE, KKT
机构：
[1] Pennsylvania State University, Erie, Pennsylvania
来源：
MANAGERIAL AND DECISION ECONOMICS | 1990年 / 11卷 / 03期
关键词：
D O I：
10.1002/mde.4090110304
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper seeks to determine if CEO turnover is a function of firm performance, and therefore attempts to gauge the extent to which CEO interests are aligned with those of stockholders. The methodology in this paper focuses primarily on estimating the relationship between the probability of CEO exit and indices of firm performance and corporate governance structure. A major finding of the paper is that the accountability of CEOs to stockholders is significantly limited by CEO power, and CEO turnover is influenced more by internal governance structure than by firm profit or sales performance. Copyright © 1990 John Wiley & Sons, Ltd.
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页码：167 / 176
页数：10
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