TOP EXECUTIVES, TURNOVER, AND FIRM PERFORMANCE IN GERMANY

被引：136
|
作者：
KAPLAN, SN [1 ]
机构：
[1] NATL BUR ECON RES,CAMBRIDGE,MA 02138
来源：
JOURNAL OF LAW ECONOMICS & ORGANIZATION | 1994年 / 10卷 / 01期
关键词：
D O I：
10.1093/jleo/10.1.142
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article examines executive turnover-for both management and supervisory boards-and its relation to firm performance in the largest companies in Germany in the 1980s. Turnover of the management board increases significantly with poor stock performance and particularly poor (i.e., negative) earnings, but is unrelated to sales growth and earnings growth. These turnover-performance relations do not vary with measures of stock ownership and bank voting power. Supervisory board appointments and turnover also increase with poor stock performance, but are unrelated to other measures of performance.
引用
收藏
页码：142 / 159
页数：18
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