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| Tekijä: | Florou, A. |
| Otsikko: | Top director shake-up: The link between Chairman and CEO dismissl in the UK |
| Lehti: | Journal of Business Finance and Accounting
2005 : VOL. 32:1-2, p. 97-128 |
| Asiasana: | Executives Chairmen Corporate restructuring Corporate governance Performance appraisal Companies United Kingdom |
| Vapaa asiasana: | Director turnover |
| Kieli: | eng |
| Tiivistelmä: | Most UK firms separate the roles of CEO and Chairman. The former runs the company and the latter runs the board. Using turnover data on 2.180 Chairmanships of the top 460 UK companies over the 1990-1998 period, it is found that the Chairman is more likely to be replaced when the CEO is missed. Detailed data on the dismissal events suggests that Chairman replacement is associated with board restructuring. This may be necessary to bring in different skills and experience which, in turn, might facilitate changes in future corporate decisions. |
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