Brookman, Jeff; Thistle, Paul D. - In: Journal of Corporate Finance 15 (2009) 3, pp. 331-344
We examine CEOs' risk of termination, its determinants and its effect on firm value. Using survival analysis, we find that the risk of termination increases for about thirteen years before decreasing slightly with CEO tenure; 82% of CEOs have tenure of less than thirteen years. We also find that...