Title:
Performance implications of CEO dismissals
Subtitle:
evidence from a stakeholder environment ; presented at the 25th annual
international conference Strategic Management Society, 2005, Orlando, USA
Author(s):
Bresser, Rudi K. F.; Valle Thiele, Reynaldo; Biedermann, Annette; Lüdeke, Holger
Year of publication:
2005
Available Date:
2008-08-06T08:09:22.722Z
Abstract:
Based on a sample of large, publicly traded German companies, we study
performance implications of CEO dismissals. We find that measures of
accounting performance are good predictors of CEO dismissal events: Low pre-
succession accounting performance increases the probability of dismissals.
However, replacement CEOs do not manage to turn things around because they do
not experience significant increases in either operating or market performance
during a two-year post-succession period.
Keywords:
executive succession
dismissals
corporate governance
DDC-Classification:
330 Wirtschaft
Department/institution:
Wirtschaftswissenschaft
Betriebswirtschaftslehre / Management-Department
Series:
Diskussionsbeiträge des Instituts für Management
