Download or read book Financial Performance Surrounding CEO Turnover written by Kevin James Murphy and published by . This book was released on 1992 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Strategic Leadership written by Sydney Finkelstein and published by Strategic Management. This book was released on 2009 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book integrates and assesses the vast and rapidly growing literature on strategic leadership, which is the study of top executives and their effects on organizations. The basic premise is that in order to understand why organizations do the things they do, or perform the way they do, we need to deeply comprehend the people at the top-- their experiences, abilities, values, social connections, aspirations, and other human features. The actions--or inactions--of a relatively small number of key people at the apex of an organization can dramatically affect organizational outcomes. The scope of strategic leadership includes individual executives, especially chief executive officers (CEOs), groups of executives (top management teams, or TMTs); and governing bodies (particularly boards of directors). Accordingly, the book addresses an array of topics regarding CEOs (e.g., values, personality, motives, demography, succession, and compensation); TMTs (including composition, processes, and dynamics); and boards of directors (why boards look and behave the way they do, and the consequences of board profiles and behaviors). Strategic Leadership synthesizes what is known about strategic leadership and indicates new research directions. The book is meant primarily for scholars who strive to assess and understand the phenomena of strategic leadership. It offers a considerable foundation on which professionals involved in executive search, compensation, appraisal and staffing, as well as board members who evaluate executive performance and potential, might build their tools and perspectives.
Download or read book The Handbook of the Economics of Corporate Governance written by Benjamin Hermalin and published by Elsevier. This book was released on 2017-09-18 with total page 762 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of the Economics of Corporate Governance, Volume One, covers all issues important to economists. It is organized around fundamental principles, whereas multidisciplinary books on corporate governance often concentrate on specific topics. Specific topics include Relevant Theory and Methods, Organizational Economic Models as They Pertain to Governance, Managerial Career Concerns, Assessment & Monitoring, and Signal Jamming, The Institutions and Practice of Governance, The Law and Economics of Governance, Takeovers, Buyouts, and the Market for Control, Executive Compensation, Dominant Shareholders, and more. Providing excellent overviews and summaries of extant research, this book presents advanced students in graduate programs with details and perspectives that other books overlook. Concentrates on underlying principles that change little, even as the empirical literature moves on Helps readers see corporate governance systems as interrelated or even intertwined external (country-level) and internal (firm-level) forces Reviews the methodological tools of the field (theory and empirical), the most relevant models, and the field’s substantive findings, all of which help point the way forward
Download or read book The Role of Family Involvement on CEO Turnover written by Maximiliano Gonzalez and published by . This book was released on 2014 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Manuscript Type: EmpiricalResearch Question/Issue: How sensitive is CEO turnover to firm performance in the context of family firms?Research Findings/Insights: Using a detailed database of mostly non-listed Colombian firms, we find that family ownership (direct and indirect through pyramidal structure) reduces the probability of CEO turnover when financial performance has been poor, but found the opposite effect when families participate actively on the board of directors. These results hold even when the manager is a family member, although the probability of turnover is lower for a family member. This lower probability does not affect the financial performance of the firm. In other words a benevolent entrenchment of the family CEO seems to occur.Theoretical/Academic Implications: First, the theoretical premise that bad financial performance usually leads to changes in top management has been widely tested around the world; however, this study is among the few to deal with this issue in terms of closely held firms' micro-data. Second, our results contribute to the growing literature on agency problems inside family firms. Third, this study contributes to the empirical literature of corporate governance in family firms for an under-studied region that has gained relevance in the world economy. Practitioner/Policy Implications: Usually family firms are treated as a single unit, ignoring the different ways families may influence governance decisions. This study considers family involvement in three dimensions: management, ownership (direct and indirect), and control, and shows that the impact of family in governance decisions is not uniform and depends largely on the different ways family is involved in business.
Download or read book Performance induced CEO Turnover written by Dirk Jenter and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Passing the Baton written by Richard F. Vancil and published by Harvard Business Review Press. This book was released on 1987 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pay Without Performance written by Lucian A. Bebchuk and published by Harvard University Press. This book was released on 2004 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders. Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives. This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
Download or read book Earnings Management Surrounding CEO Turnover written by Jong-Seo Choi and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Impression Management in Financial Reports Surrounding CEO Turnover written by Nadesa Goundar and published by . This book was released on 2009 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This study focuses on whether new management uses impression management to influence the presentation of performance in the firm's annual reports surrounding a changeover in CEO. The study considers the use or non-use of graphs for presenting information as well as distortions in the graphs. Overall there is some evidence for impression management, but it is not strong. Thus impression management as implemented through graphs does not appear to be used as widely in New Zealand as in other jurisdictions where it has been studied"--Leaf iv.
Download or read book Why CEOs Fail written by David L. Dotlich and published by John Wiley & Sons. This book was released on 2007-12-10 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Führungskräfte in Unternehmen wollen erfolgreich sein. Doch nicht selten sabotieren sie ihren Erfolg, weil sie zu bestimmten negativen Verhaltensweisen neigen - den sog. 11 Todsünden. Obwohl dieselben Verhaltensweisen sie in gewissem Maße in diese Führungsposition gebracht haben mögen, können sie ab einem bestimmten Zeitpunkt negativ, ja zerstörerisch werden. "Why CEOs Fail" ist ein praktischer Leitfaden, wie man diese 11 Todsünden vermeidet. Die Autoren - beide Psychologen und erfahrene Coaches mit internationaler Klientel - erläutern hier in kurzen, übersichtlichen Kapiteln die 11 Todsünden am Beispiel von zahlreichen pikanten Geschichten und lehrreichen Anekdoten aus ihrer täglichen Beratungspraxis. Überzeugend, direkt und präzise auf den Punkt gebracht! Mit einem Vorwort von Ram Charan, dem Mitautor des Mega-Bestsellers "Execution". "Why CEOs Fail" - Eine fesselnde und inspirierende Lektüre, wie man die typischen Verhaltensfehler meidet und als Führungskraft erfolgreich ist.
Download or read book Interactive Reporting Bias Surrounding CEO Turnover written by Chia-Feng (Jeffrey) Yu and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes how CEO turnover affects successive CEOs' financial reporting decisions and the capital market price. I show that when an outgoing CEO (O) in period 1 is succeeded by an incoming CEO (N) in period 2, strategic interaction between O and N leads to interlinked earnings reports. Specifically, when the level of earnings reported by O is lower, N's reporting strategy is more likely to feature a downward reporting bias. Furthermore, by a comparison of the two-CEO setting with a setting with no CEO turnover, I show that with CEO turnover, (i) the period 2 earnings report is more sensitive to the private information of the CEO in control and less sensitive to the period 1 earnings report; (ii) the period 1 earnings report is more sensitive to the private information of the CEO in control; and (iii) the equilibrium stock price has the same sensitivities towards the associated risks, but is less sensitive to the periods 1 and 2 earnings reports. These results provide a novel explanation for managerial under-reporting bias based on strategic interaction between successive CEOs and shed light on the role of CEO turnover in earnings management behavior and capital market responses.
Download or read book Conflict Induced Forced CEO Turnover and Firm Performance written by Jing Zhang and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Executive Compensation and Shareholder Value written by Jennifer Carpenter and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive compensation has gained widespread public attention in recent years, with the pay of top U.S. executives reaching unprecedented levels compared either with past levels, with the remuneration of top executives in other countries, or with the wages and salaries of typical employees. The extraordinary levels of executive compensation have been achieved at a time when U.S. public companies have realized substantial gains in stock market value. Many have cited this as evidence that U.S. executive compensation works well, rewarding managers who make difficult decisions that lead to higher shareholder values, while others have argued that the overly generous salaries and benefits bear little relation to company performance. Recent conceptual and empirical research permits for the first time a truly rigorous debate on these and related issues, which is the subject of this volume.
Download or read book The Performance Consequences of CEO Turnover written by Rakesh Khurana and published by . This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous research on executive turnover treats the departures of predecessors and the origin of successors as independent events. This approach has led to mixed empirical findings with respect to measuring the effects of executive turnover on firm performance. Using a longitudinal data set, we show that the conditions under which the predecessor departs (forced versus natural turnover) and the origin of the successor (insider versus outsider) are theoretically coupled phenomena with distinct combinations leading to differences in subsequent performance.
Download or read book CEO Turnover written by Brad R. Humphreys and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book CEO Turnover written by Kathleen Anne Farrell and published by . This book was released on 1994 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Mergers Sell Offs and Economic Efficiency written by David J. Ravenscraft and published by Brookings Institution Press. This book was released on 2011-10-01 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the consolidation and merger of corporations and corporate divestiture in the United States.
