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earnings. These results indicate that boards tend to act proactively to discipline managers who manage earnings aggressively …
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We examine the effects of CEO turnover in banks. Incoming bank CEOs face problems from information asymmetry because banks' operations are opaque and bank risk can change dramatically in a short time. Incoming bank CEOs may therefore change bank policies to manage their personal risks. Since CEO...
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% lower profit-to-sales and 25% lower return-on-assets in the transition quarter. This decrease occurs due to increased …
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Following CEO turnovers, US firms adjust real business activities to manage earnings downward (REM bath). This effect is most pronounced in firms with low levels of institutional ownership. REM baths early in CEOs' tenure can be confounded with legitimate adjustments to business activities....
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