This study empirically examines the influence of firm performance on CEO turnover using data of all listed companies on the Korea Stock Exchange, except those in the financial industry, over the period 2000-2012. We control for endogeneity of firm performance by employing the Two-Stage Residuals...

Boards of directors face the twin task of disciplining and screening executives. To perform these tasks directors do not have detailed information about executives' behaviour, and only infrequently have information about the success or failure of initiated strategies, reorganizations, mergers...

The quality of public management is a recurrent concern in many countries. Calls to attract the economy's best and brightest managers to the public sector abound. This paper studies self-selection into managerial and non-managerial positions in the public and private sector, using a model of a...