Logo

Pusat Sumber Belajar FEB UI

  • FAQ
  • Berita
  • Rooms
  • Bantuan
  • Area Anggota
  • Pilih Bahasa :
    Bahasa Inggris Bahasa Indonesia
  • Search
  • Google
  • Advanced Search
*sometimes there will be ads at the top, just scroll down to the results of this web
No image available for this title

Text

Information asymmetry and the dismissal of newly appointed CEOs: an empirical investigation

Zhang, Yan - ;

Why are some newly appointed CEOs (i.e., those with tenure of three years or less) dismissed while others are not? Drawing upon previous research on information asymmetry and adverse selection in CEO selection, the author argue that the board of directors may make a poor selection at the time of CEO succession, and as a result, must dismiss the appointee after succession when better information about him/her is obtained. Therefore, the level of information asymmetry at the time of succession increases the likelihood of dismissal. With data on 204 newly appointed CEOs, the results of this study support this argument. After controlling for alternative explanations of CEO dismissal (e.g., firm performance and political factors), the results show that the likelihood of dismissal of newly appointed CEOs is higher in outside successions and/or if the succession follows the dismissal of the preceding CEO. Further, if at the time of succession, the firm's board has a nominating committee that is independent and/or on which outside directors have few external directorships, the likelihood of dismissal is lower. Contributions to the CEO dismissal/succession literature are discussed..Printed journal


Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit: John Wiley & Sons
Edisi-
SubjekChief executive officers
Information
Boards of directors
Adverse selection
studies
Succession planning
Terminations
ISBN/ISSN1432095
Klasifikasi-
Deskripsi Fisik-
Info Detail Spesifik-
Other Version/RelatedTidak tersedia versi lain
Lampiran BerkasTidak Ada Data

Pencarian Spesifik
Where do you want to share?