Nothing Special   »   [go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/b/zbw/esthes/43681.html
   My bibliography  Save this book

Bedingungen und Konsequenzen des Wechsels von Finanzvorständen - Eine Analyse in großen börsennotierten Unternehmen

Author

Listed:
  • Hadem, Michael
Abstract
No abstract is available for this item.

Suggested Citation

  • Hadem, Michael, 2010. "Bedingungen und Konsequenzen des Wechsels von Finanzvorständen - Eine Analyse in großen börsennotierten Unternehmen," EconStor Theses, ZBW - Leibniz Information Centre for Economics, number 43681, September.
    • Handle: RePEc:zbw:esthes:43681
    Note: zugl. Dissertation, European Business School, International University Schloß Reichartshausen, Fachbereich Betriebswirtschaftslehre, Oestrich-Winkel, 2010
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/43681/1/00Gesamtdokument_110109v28.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hotchkiss, Edith Shwalb, 1995. "Postbankruptcy Performance and Management Turnover," Journal of Finance, American Finance Association, vol. 50(1), pages 3-21, March.
    2. Helmich, Donald L., 1975. "Succession: A longitudinal look," Journal of Business Research, Elsevier, vol. 3(4), pages 355-364, October.
    3. Kaplan, Steven N, 1994. "Top Executives, Turnover, and Firm Performance in Germany," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 10(1), pages 142-159, April.
    4. Cosh, Andy & Hughes, Alan, 1997. "Executive remuneration, executive dismissal and institutional shareholdings," International Journal of Industrial Organization, Elsevier, vol. 15(4), pages 469-492, July.
    5. Denis, David J. & Denis, Diane K. & Sarin, Atulya, 1997. "Ownership structure and top executive turnover," Journal of Financial Economics, Elsevier, vol. 45(2), pages 193-221, August.
    6. repec:bla:jfinan:v:59:y:2004:i:4:p:1511-1552 is not listed on IDEAS
    7. Adams, John C. & Mansi, Sattar A., 2009. "CEO turnover and bondholder wealth," Journal of Banking & Finance, Elsevier, vol. 33(3), pages 522-533, March.
    8. Parrino, Robert, 1997. "CEO turnover and outside succession A cross-sectional analysis," Journal of Financial Economics, Elsevier, vol. 46(2), pages 165-197, November.
    9. McAfee, R Preston & McMillan, John, 1991. "Optimal Contracts for Teams," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 32(3), pages 561-577, August.
    10. Krishnan, Hema A., 2009. "What causes turnover among women on top management teams?," Journal of Business Research, Elsevier, vol. 62(11), pages 1181-1186, November.
    11. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    12. Furtado, Eugene P. H. & Rozeff, Michael S., 1987. "The wealth effects of company initiated management changes," Journal of Financial Economics, Elsevier, vol. 18(1), pages 147-160, March.
    13. Chakraborty, Atreya & Sheikh, Shahbaz & Subramanian, Narayanan, 2009. "The relationship between incentive compensation and performance related CEO turnover," Journal of Economics and Business, Elsevier, vol. 61(4), pages 295-311, July.
    14. Holmstrom, Bengt & Milgrom, Paul, 1991. "Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 7(0), pages 24-52, Special I.
    15. Mark R. Huson & Robert Parrino & Laura T. Starks, 2001. "Internal Monitoring Mechanisms and CEO Turnover: A Long‐Term Perspective," Journal of Finance, American Finance Association, vol. 56(6), pages 2265-2297, December.
    16. Ayse Karaevli, 2007. "Performance consequences of new CEO ‘Outsiderness’: Moderating effects of pre‐ and post‐succession contexts," Strategic Management Journal, Wiley Blackwell, vol. 28(7), pages 681-706, July.
    17. Qing Cao & Likoebe M. Maruping & Riki Takeuchi, 2006. "Disentangling the Effects of CEO Turnover and Succession on Organizational Capabilities: A Social Network Perspective," Organization Science, INFORMS, vol. 17(5), pages 563-576, October.
    18. Hermalin, Benjamin E & Weisbach, Michael S, 1998. "Endogenously Chosen Boards of Directors and Their Monitoring of the CEO," American Economic Review, American Economic Association, vol. 88(1), pages 96-118, March.
    19. Randolph P. Beatty & Edward J. Zajac, 1987. "Ceo change and firm performance in large corporations: Succession effects and manager effects," Strategic Management Journal, Wiley Blackwell, vol. 8(4), pages 305-317, July.
    20. Ross, Stephen A, 1973. "The Economic Theory of Agency: The Principal's Problem," American Economic Review, American Economic Association, vol. 63(2), pages 134-139, May.
    21. Ahn, Sanghoon & Bhattacharya, Utpal & Jung, Taehun & Nam, Giseok, 2009. "Do Japanese CEOs matter?," Pacific-Basin Finance Journal, Elsevier, vol. 17(5), pages 628-650, November.
    22. Wallace Davidson & Carol Nemec & Dan Worrell & Jun Lin, 2002. "Industrial Origin of CEOs in Outside Succession: Board Preference and Stockholder Reaction," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 6(4), pages 295-321, December.
    23. Fee, C. Edward & Hadlock, Charles J., 2004. "Management turnover across the corporate hierarchy," Journal of Accounting and Economics, Elsevier, vol. 37(1), pages 3-38, February.
    24. Helmich, Donald L., 1975. "The executive interface and president's leadership behavior," Journal of Business Research, Elsevier, vol. 3(1), pages 43-52, January.
    25. Idalene F. Kesner & Dan R. Dalton, 1994. "Top Management Turnover And Ceo Succession: An Investigation Of The Effects Of Turnover On Performance," Journal of Management Studies, Wiley Blackwell, vol. 31(5), pages 701-713, September.
    26. Parrino, Robert & Sias, Richard W. & Starks, Laura T., 2003. "Voting with their feet: institutional ownership changes around forced CEO turnover," Journal of Financial Economics, Elsevier, vol. 68(1), pages 3-46, April.
    27. Huson, Mark R. & Malatesta, Paul H. & Parrino, Robert, 2004. "Managerial succession and firm performance," Journal of Financial Economics, Elsevier, vol. 74(2), pages 237-275, November.
    28. Tomoaki Sakano & Arie Y. Lewin, 1999. "Impact of CEO Succession in Japanese Companies: A Coevolutionary Perspective," Organization Science, INFORMS, vol. 10(5), pages 654-671, October.
    29. Gilson, Stuart C., 1989. "Management turnover and financial distress," Journal of Financial Economics, Elsevier, vol. 25(2), pages 241-262, December.
    30. Mian, Shehzad, 2001. "On the choice and replacement of chief financial officers," Journal of Financial Economics, Elsevier, vol. 60(1), pages 143-175, April.
    31. James Ang & Beni Lauterbach & Joseph Vu, 2003. "Efficient Labor and Capital Markets: Evidence from CEO Appointments," Financial Management, Financial Management Association, vol. 32(2), Summer.
    32. Catherine M. Daily & Dan R. Dalton, 1995. "CEO and director turnover in failing firms: An illusion of change?," Strategic Management Journal, Wiley Blackwell, vol. 16(5), pages 393-400.
    33. Denis, David J & Denis, Diane K, 1995. "Performance Changes Following Top Management Dismissals," Journal of Finance, American Finance Association, vol. 50(4), pages 1029-1057, September.
    34. Kim, Yungsan, 1996. "Long-Term Firm Performance and Chief Executive Turnover: An Empirical Study of the Dynamics," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 12(2), pages 480-496, October.
    35. Rachel M. Hayes & Paul Oyer & Scott Schaefer, 2006. "Coworker Complementarity and the Stability of Top-Management Teams," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 22(1), pages 184-212, April.
    36. Heather A. Haveman & Michael V. Russo & Alan D. Meyer, 2001. "Organizational Environments in Flux: The Impact of Regulatory Punctuations on Organizational Domains, CEO Succession, and Performance," Organization Science, INFORMS, vol. 12(3), pages 253-273, June.
    37. Kenneth M. Lehn & Mengxin Zhao, 2006. "CEO Turnover after Acquisitions: Are Bad Bidders Fired?," Journal of Finance, American Finance Association, vol. 61(4), pages 1759-1811, August.
    38. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-325, June.
    39. Murphy, Kevin J. & Zimmerman, Jerold L., 1993. "Financial performance surrounding CEO turnover," Journal of Accounting and Economics, Elsevier, vol. 16(1-3), pages 273-315, April.
    40. Volker Laux, 2008. "Board Independence and CEO Turnover," Journal of Accounting Research, Wiley Blackwell, vol. 46(1), pages 137-171, March.
    41. Holmstrom, Bengt & Milgrom, Paul, 1994. "The Firm as an Incentive System," American Economic Review, American Economic Association, vol. 84(4), pages 972-991, September.
    42. Borokhovich, Kenneth A. & Parrino, Robert & Trapani, Teresa, 1996. "Outside Directors and CEO Selection," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 31(3), pages 337-355, September.
    43. Helmich, Donald L., 1976. "Matching: Board size and executive span," Journal of Business Research, Elsevier, vol. 4(3), pages 255-270, August.
    44. Denis, David J. & Serrano, Jan M., 1996. "Active investors and management turnover following unsuccessful control contests," Journal of Financial Economics, Elsevier, vol. 40(2), pages 239-266, February.
    45. Deepak K. Datta & James P. Guthrie, 1994. "Executive succession: Organizational antecedents of ceo characteristics," Strategic Management Journal, Wiley Blackwell, vol. 15(7), pages 569-577, September.
    46. Farrell, Kathleen A & Whidbee, David A, 2000. "The Consequences of Forced CEO Succession for Outside Directors," The Journal of Business, University of Chicago Press, vol. 73(4), pages 597-627, October.
    47. Bengt Holmström, 1999. "Managerial Incentive Problems: A Dynamic Perspective," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 169-182.
    48. Jong C. Rhim & Joy V. Peluchette & Inam Song, 2006. "Stock Market Reactions and Firm Performance Surrounding CEO Succession: Antecedents of Succession and Successor Origin," American Journal of Business, Emerald Group Publishing, vol. 21(1), pages 21-30.
    49. R. M. Parish, 1964. "Reply," The Economic Record, The Economic Society of Australia, vol. 40(90), pages 265-267, June.
    50. Matthew C. Clayton & Jay C. Hartzell & Joshua Rosenberg, 2005. "The Impact of CEO Turnover on Equity Volatility," The Journal of Business, University of Chicago Press, vol. 78(5), pages 1779-1808, September.
    51. DeAngelo, Harry & DeAngelo, Linda, 1989. "Proxy contests and the governance of publicly held corporations," Journal of Financial Economics, Elsevier, vol. 23(1), pages 29-59, June.
    52. Bhagat, Sanjai & Bolton, Brian, 2008. "Corporate governance and firm performance," Journal of Corporate Finance, Elsevier, vol. 14(3), pages 257-273, June.
    53. repec:eee:labchp:v:3:y:1999:i:pb:p:2485-2563 is not listed on IDEAS
    54. Takao Kato & Cheryl Long, 2006. "Executive Turnover and Firm Performance in China," American Economic Review, American Economic Association, vol. 96(2), pages 363-367, May.
    55. Vincent L. Barker III & Paul W. Patterson Jr & George C. Mueller, 2001. "Organizational Causes and Strategic Consequences of the Extent of Top Management Team Replacement During Turnaround Attempts," Journal of Management Studies, Wiley Blackwell, vol. 38(2), pages 235-270, March.
    56. Bengt Holmstrom, 1999. "Managerial Incentive Problems: A Dynamic Perspective," NBER Working Papers 6875, National Bureau of Economic Research, Inc.
    57. Conyon, Martin J & Nicolitsas, Daphne, 1998. "Does the Market for Top Executives Work? CEO Pay and Turnover in Small U.K. Companies," Small Business Economics, Springer, vol. 11(2), pages 145-154, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kind, Axel & Schläpfer, Yves, 2011. "Are forced CEO turnovers good or bad news?," Working papers 2011/10, Faculty of Business and Economics - University of Basel.
    2. Dirk Jenter & Katharina Lewellen, 2021. "Performance-Induced CEO Turnover [The “Wall Street Walk” and shareholder activism: Exit as a form of voice]," The Review of Financial Studies, Society for Financial Studies, vol. 34(2), pages 569-617.
    3. Jenter, Dirk & Cziraki, Peter, 2021. "The Market for CEOs," CEPR Discussion Papers 16281, C.E.P.R. Discussion Papers.
    4. Paul Farah & Hui Li, 2021. "CEO Turnovers: Transparency of Announcements and the Outperformance Puzzle," IJFS, MDPI, vol. 9(3), pages 1-22, June.
    5. Jalal, Abu M. & Prezas, Alexandros P., 2012. "Outsider CEO succession and firm performance," Journal of Economics and Business, Elsevier, vol. 64(6), pages 399-426.
    6. Barbara Voußem & Utz Schäffer & Denis Schweizer, 2015. "Top management turnover under the influence of activist investors," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(3), pages 709-739, August.
    7. (Jianqiu) Bai, John & Mkrtchyan, Anahit, 2023. "What do outside CEOs really do? Evidence from plant-level data," Journal of Financial Economics, Elsevier, vol. 147(1), pages 27-48.
    8. Isabelle Allemand, 2009. "Analyse des liens entre les départs de dirigeants suite à une mauvaise performance et la création de valeur: une étude menée en France," Revue Finance Contrôle Stratégie, revues.org, vol. 12(2), pages 69-90, June.
    9. Raymond J. Fisman & Rakesh Khurana & Matthew Rhodes-Kropf & Soojin Yim, 2014. "Governance and CEO Turnover: Do Something or Do the Right Thing?," Management Science, INFORMS, vol. 60(2), pages 319-337, February.
    10. Chakraborty, Atreya & Sheikh, Shahbaz & Subramanian, Narayanan, 2009. "The relationship between incentive compensation and performance related CEO turnover," Journal of Economics and Business, Elsevier, vol. 61(4), pages 295-311, July.
    11. Steven Balsam & So Yean Kwack, 2022. "The impact of connections between the CEO and top executives on appointment, turnover and firm value," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(5-6), pages 882-933, May.
    12. repec:eee:labchp:v:3:y:1999:i:pb:p:2485-2563 is not listed on IDEAS
    13. Renee B. Adams & Benjamin E. Hermalin & Michael S. Weisbach, 2010. "The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey," Journal of Economic Literature, American Economic Association, vol. 48(1), pages 58-107, March.
    14. Rachel M. Hayes & Paul Oyer & Scott Schaefer, 2006. "Coworker Complementarity and the Stability of Top-Management Teams," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 22(1), pages 184-212, April.
    15. Eckbo, B. Espen & Thorburn, Karin S. & Wang, Wei, 2016. "How costly is corporate bankruptcy for the CEO?," Journal of Financial Economics, Elsevier, vol. 121(1), pages 210-229.
    16. Klaus Schaeck & Martin Cihak & Andrea Maechler & Stephanie Stolz, 2011. "Who Disciplines Bank Managers?," Review of Finance, European Finance Association, vol. 16(1), pages 197-243.
    17. Lausten, Mette, 2002. "CEO turnover, firm performance and corporate governance: empirical evidence on Danish firms," International Journal of Industrial Organization, Elsevier, vol. 20(3), pages 391-414, March.
    18. Colak, Gonul & Liljeblom, Eva, 2022. "Easy cleanups or forbearing improvements: The effect of CEO tenure on successor’s performance," Journal of Financial Stability, Elsevier, vol. 63(C).
    19. Alberto Chong & Florencio López-de-Silanes, 2007. "Investor Protection and Corporate Governance : Firm-Level Evidence Across Latin America," World Bank Publications - Books, The World Bank Group, number 6769.
    20. Campbell, T. Colin & Gallmeyer, Michael & Johnson, Shane A. & Rutherford, Jessica & Stanley, Brooke W., 2011. "CEO optimism and forced turnover," Journal of Financial Economics, Elsevier, vol. 101(3), pages 695-712, September.
    21. Wallace Davidson & Yixi Ning & David Rakowski & Eahab Elsaid, 2008. "The antecedents of simultaneous appointments to CEO and Chair," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 12(4), pages 381-401, November.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:esthes:43681. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/zbwkide.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.