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| Tekijä: | Hillier, D Linn, S.C. McColgan, P. |
| Otsikko: | Equity issuance, CEO turnover and corporate governance |
| Lehti: | European Financial Management
2005 : SEP, VOL. 11:4, p. 515-538 |
| Asiasana: | Board of directors Chief executive officers Performance appraisal Share issues Turnover |
| Kieli: | eng |
| Tiivistelmä: | This paper analyses the effect of external market discipline on chief executive turnover decisions in poorly performing companies. It is shown that firms that undertake equity offerings are related to increased rate of forced CEO turnover. It is also found that equity offerings increase the probability of a new CEO being appointed from outside the current management team. |
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