haku: @journal_id 475 / yhteensä: 1037
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| Tekijä: | Wiersema, M. F. Zhang, Y. |
| Otsikko: | CEO dismissal: the role of investment analysts |
| Lehti: | Strategic Management Journal
2011 : NOV, VOL. 32:11 p. 1161-1182 |
| Asiasana: | chief executive officers dismissal executives board of directors performance appraisal stocks financial performance |
| Kieli: | eng |
| Tiivistelmä: | This article suggests that investment analysts give certification to the CEO's ability and thus help reduce the ambiguity related to the board's evaluation of the CEO's efficacy. Furthermore, the board tends to respond to investment analysts because their stock recommendations affect investors. Employing panel data on the S&P 500 companies for the 2000-2005 period, it is found that negative analyst recommendations result in a higher probability of CEO dismissal. |
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