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Strong corporate governance may bear some costs to shareholders when it leads to the departure of value-enhancing CEOs …
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the minority shareholders by changing the internal monitoring mechanisms of the managers … exposure to stock price changes has forced the owners Chinese SOEs to evaluate the managers for the poor stock performance …. This also shows that alignment in the incentives of the minority and majority shareholders helps protect the interests of …
Persistent link: https://www.econbiz.de/10013010860
This study finds a positive, economically meaningful impact of generalist chief executive officers (CEOs) on shareholder value using 164 sudden deaths and 345 non-sudden exogenous turnovers. The higher a departing CEO's general ability index (GAI), independently and relative to her successor,...
Persistent link: https://www.econbiz.de/10012934393
This paper analyzes the reputational effects of forced CEO turnovers on outside directors. Directors interlocked to a forced CEO turnover experience large and persistent increases in withheld votes at subsequent re-elections relative to non-turnover-interlocked directors. Reputational losses are...
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We examine the labor market consequences for directors who adopt poison pills. Directors who become associated with pill adoption experience significant decreases in vote margins and increases in termination rates across all their directorships. They also experience a decrease in the likelihood...
Persistent link: https://www.econbiz.de/10012120332
Universal Demand laws, which restrict shareholder lawsuits that allege a breach of fiduciary duty by directors or managers. We …
Persistent link: https://www.econbiz.de/10014352027
background for the drivers of shareholders' responses to these three corporate decisions. In other words, I will provide answers … events might be perceived by shareholders as either positive or negative signals concerning perspectives and future cash …
Persistent link: https://www.econbiz.de/10014444882