search query: @author Partch, M. M. / total: 6
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| Author: | Mikkelson, W. H. Partch, M. M. |
| Title: | The decline of takeovers and disciplinary managerial turnover |
| Journal: | Journal of Financial Economics
1997 : MAY, VOL. 44:2, p. 205-228 |
| Index terms: | MERGERS COMPANIES MANAGEMENT BEHAVIOUR TURNOVER DISCIPLINE |
| Language: | eng |
| Abstract: | Top management turnover in unacquired U.S. industrial firms during an active takeover market and less active takeover market are compared in this study. For companies in the lowest quartile of performance 33% experience turnover of the president, CEO and board chair during the active takeover period, and 17% experience turnover during the less active period. Evidence is provided that performance and turnover are related only in the active takeover period. It sems that takeover activity affects the intensity of managerial discipline. |
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