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| Tekijä: | Farrell, K. A. Whidbee, D. A. |
| Otsikko: | Monitoring by the financial press and forced CEO turnover |
| Lehti: | Journal of Banking and Finance
2002 : DEC, VOL. 26:12, p. 2249-2276 |
| Asiasana: | CHIEF EXECUTIVE OFFICERS TURNOVER CORPORATE GOVERNANCE EARNINGS |
| Kieli: | eng |
| Tiivistelmä: | This paper examines Wall Street Journal news stories about 79 firms that forced CEO turnover and a matched sample of firms that did not force CEO turnover. In the two years prior to turnover, firms in the forced-turnover sample were the subjects of 76% more news stories about poor firm performance despite being from the same industry, of similar size, and similar performance as a sample of matched firms. Overall, the evidence suggests that scrutiny of poor firm performance by the financial press increases the likelihood of forced CEO turnover. The paper provides a substantial list of references on this subject. |
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