We shed light on the drivers and consequences of turnover in human resources for the UK football industry. We employ an event study using daily panel data of player transfers for a group of listed UK football clubs. Our results suggest asymmetric wealth effects: the acquisition of players is...

This paper analyzes the market reaction to CEO turnover announcements in the presence of information frictions. We find that the market reaction to forced CEO turnover announcements is negatively related to the level of asymmetric information between a firm and its investors. No such relation...

This study investigates how capital market investors assess CEO succession planning in the context of CEO turnover events. Conducting empirical tests using a manually collected sample of 676 CEO turnover cases, we find that CEO succession planning mitigates the negative association between CEO...

This study investigates market reactions to announcements of CEO turnover and finds that forced turnovers are not accompanied by positive returns, which contradicts the broad view that firing a CEO sends a positive signal to the market. This contradiction is further explored by focusing on the...

We further the understanding of cross-sectional differences in trading activity. Specifically, we link a firm's visibility, as measured by advertising, to its stock turnover. First, we suggest three mechanisms (beyond simple awareness) capable of explaining how the repeated and consistent ads...

We investigate whether a market-clearing model of the labor market is consistent with the cyclical upgrading of labor: workers tend to move to higher paying industries in expansions and to lower paying industries in contractions. By applying Roy's (1951) model of self-selection to industry...

We investigate whether a market-clearing model of the labor market is consistent with the cyclical upgrading of labor: workers tend to move to higher paying industries in expansions and to lower paying industries in contractions. By applying Roy's (1951) model of self-selection to industry...