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https://ptsldigital.ukm.my/jspui/handle/123456789/464409| Title: | Predicting CEO turnover in Australia |
| Authors: | Hoe, Cheah K How, Janice CY Verhoeven, Peter |
| Conference Name: | The thirteenth Annual PACAP/FMA Finance Conference |
| Keywords: | Upper management CEO turnover |
| Conference Date: | 2001-07-05 |
| Conference Location: | Westin Chosun Hotel, Seoul, Korea Radisson Plaza Hotel, Seoul, Korea |
| Abstract: | This paper examines factors affecting the probability of forced CEO turnover in Australia from 1996 to I 999. We find that CEOs are being forced out after an extended period of up to five years of poor share price performance. This may be attributed to the longer tenure by CEOs, which significantly moderates the performance-turnover link. We also find that poor performance, the proportion of independent non-executive directors on the board, CEO tenure, and director ownership significantly affect the probability of forced CEO turnover. We provide new evidence that board turnover is a significant explanatory variable of the probability of forced CEO turnover. This suggests that newly appointed directors are better monitors than the replaced directors in dismissing poorly performing CEOs. |
| Pages: | 45 |
| Call Number: | HG4026.A536 2001 katsem |
| URI: | https://ptsldigital.ukm.my/jspui/handle/123456789/464409 |
| Appears in Collections: | Seminar Papers/ Proceedings / Kertas Kerja Seminar/ Prosiding |
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