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In dem Beitrag werden die Kapitalmarktreaktionen auf die Ankündigung eines Wechsels des Vorstandsvorsitzenden eines Unternehmens in dessen Aufsichtsrat untersucht. Dazu wird ein Sample von insgesamt 174 Führungswechseln (davon 65 verbunden mit der Ankündigung eines Wechsels des ehemaligen...
Persistent link: https://www.econbiz.de/10010995181
We study the stock market's reaction to the unexpected death of a top executive or board chair for insight into grey director incentives. Whereas there is little debate as to the motives of inside and strict outside directors, the allegiance of grey directors is less certain. We find that grey...
Persistent link: https://www.econbiz.de/10010939807
This Paper studies the determinants of executive turnover and firm valuation as a function of ownership and control structure in Italy, a country that features low legal protection for investors, firms with controlling shareholders, and pyramidal groups. The results suggest that there is poor...
Persistent link: https://www.econbiz.de/10005136454
This paper examines the governance of Spanish Banks around two main issues. First, does a poor economic performance activate those governance interventions that favor the removal of executive directors and the merger of non-performing banks? And second, does the relationship between governance...
Persistent link: https://www.econbiz.de/10005702983
In this paper we study the impact of the connections of the top executives (Presidents, CEOs and General Managers) of … Italian banks on their turnover and on bank performance. We measure managers’ connections by the kilometer distance between … the province of the bank's headquarter and the manager's province of birth. We show that top managers tend to be local in …
Persistent link: https://www.econbiz.de/10010577050
underperforming managers. In fiercely competitive markets, the higher threat of bankruptcy or hostile takeover seems to effectively …
Persistent link: https://www.econbiz.de/10011168712
Using comprehensive financial and accounting data on China’s listed firms from 1998 to 2002, augmented by unique data on CEO turnover, ownership structure and board characteristics, we estimate Logit models of CEO turnover. We find consistently for all performance measures including both stock...
Persistent link: https://www.econbiz.de/10005566546
The participation of women in top-level corporate boards (or rather the lack of it) is subject to intense public debate. Several countries are considering legally binding quotas to increase the share of women on boards. Indeed, research on board diversity suggests positive effects of gender...
Persistent link: https://www.econbiz.de/10011196373
The participation of women in top-level corporate boards (or rather the lack of it) is subject to intense public debate. Several countries are considering legally binding quotas to increase the share of women on boards. Indeed, research on board diversity suggests positive effects of gender...
Persistent link: https://www.econbiz.de/10011203170
В статье рассматривается система управления корпорацией и ее ключевые элементы. Автор показал, что корпоративное управление и его качество находятся под...
Persistent link: https://www.econbiz.de/10011270031