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CEO tenure and the performance-turnover relation
16 references·16 citing·39 second hopsampled
CEO tenure and the performance-turnover relation (2013)CEO tenure and the performance-turnover r…What Matters in Corporate Governance? (2008)What Matters in Corporate Gov…Executive compensation (2008)Executive compensationAre Busy Boards Effective Monitors? (2006)Are Busy Boards Effective Mon…The economic implications of corporate financial reporting (2005)The economic implications of …Pay without performance: the unfulfilled promise of executive compensation (2005)Pay without performance: the …Management's Incentives to Avoid Negative Earnings Surprises (2002)Management's Incentives to Av…Managerial Incentive Problems: A Dynamic Perspective (1999)Managerial Incentive Problems…Chapter 38 Executive compensation (1999)Chapter 38 Executive compensa…Higher market valuation of companies with a small board of directors (1996)Higher market valuation of co…Endogenously Chosen Boards of Directors and Their Monitoring of the CEO (1995)Endogenously Chosen Boards of…Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence (1991)Optimal Incentive Contracts i…Handbook of Labor Economics (1989)Handbook of Labor EconomicsOutside directors and CEO turnover (1988)Outside directors and CEO tur…Management ownership and market valuation (1988)Management ownership and mark…Separation of Ownership and Control (1983)Separation of Ownership and C…Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…The bright side of analyst coverage on corporate innovation: Evidence from China (2023)The bright side of analyst co…CEO career concerns in early tenure and corporate social responsibility reporting (2023)CEO career concerns in early …CSR contracting and performance-induced CEO turnover (2022)CSR contracting and performan…CEO Tenure and Firm Value (2021)CEO Tenure and Firm ValueThe effect of board multiple directorships and CEO characteristics on firm performance: evidence from Palestine (2020)The effect of board multiple …CEO-board dynamics (2020)CEO-board dynamicsLeadership succession in different types of organizations: What business and political successions may learn from each other (2019)Leadership succession in diff…CEO Behavioral Integrity, Auditor Responses, and Firm Outcomes (2019)CEO Behavioral Integrity, Aud…Dynamics of CEO Disclosure Style (2018)Dynamics of CEO Disclosure St…Do Auditors Recognize the Potential Dark Side of Executives' Accounting Competence? (2018)Do Auditors Recognize the Pot…The effect of independent directors’ characteristics on firm performance: Tenure and multiple directorships (2017)The effect of independent dir…Revisiting the Effect of Family Involvement on Corporate Social Responsibility: A Behavioral Agency Perspective (2016)Revisiting the Effect of Fami…Political capital and CEO entrenchment: Evidence from CEO turnover in Chinese non-SOEs (2016)Political capital and CEO ent…CEO Contractual Protection and Managerial Short-Termism (2015)CEO Contractual Protection an…Voice pitch and the labor market success of male chief executive officers (2013)Voice pitch and the labor mar…Golden handshakes: Separation pay for retired and dismissed CEOsGolden handshakes: Separation…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)A Survey of Corporate Governance (1997)Corporate Ownership Around the World (1999)Determinants of corporate borrowing (1977)The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems (1993)Audit committee, board of director characteristics, and earnings management (2002)Corporate Governance and Equity Prices (2003)Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500 (2003)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)The Market for "Lemons": Quality Uncertainty and the Market Mechanism (1970)Moral Hazard and Observability (1979)Property Rights and the Nature of the Firm (1990)The Digitization of Word of Mouth: Promise and Challenges of Online Feedback Mechanisms (2003)Competition and Innovation: An Inverted-U Relationship* (2005)Earnings Management During Import Relief Investigations (1991)Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature (2001)The theory and practice of corporate finance: evidence from the field (2001)Earnings Management through Real Activities Manipulation (2003)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting (2010)Markets and Hierarchies: Analysis and Antitrust Implications. (1976)Agency Theory: An Assessment and Review (1989)Dimensionalizing Cultures: The Hofstede Model in Context (2011)Common risk factors in the returns on stocks and bonds (1993)On Persistence in Mutual Fund Performance (1997)Law and Finance (1998)Does Corporate Social Responsibility Affect the Cost of Capital? (2010)Does governance travel around the world? Evidence from institutional investors (2010)Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis (2016)Estimating the Return to Schooling: Progress on Some Persistent Econometric Problems (2001)Experimental Analysis of Neighborhood Effects (2007)Robots and Jobs: Evidence from US Labor Markets (2019)The External Control of Organizations. (1978)Income Inequality in the United States, 1913-1998 (2003)Political turnover and economic performance: the incentive role of personnel control in China (2004)
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References

  • 1983Separation of Ownership and Control19,446 cited
  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1996Higher market valuation of companies with a small board of directors6,614 cited
  • 2005The economic implications of corporate financial reporting6,337 cited
  • 1988Outside directors and CEO turnover4,251 cited
  • 1989Handbook of Labor Economics3,321 cited
  • 1999Managerial Incentive Problems: A Dynamic Perspective3,169 cited
  • 2008What Matters in Corporate Governance?2,903 cited
  • 2008Executive compensation2,390 cited
  • 2005Pay without performance: the unfulfilled promise of executive compensation1,936 cited
  • 1991Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence1,876 cited
  • 1995Endogenously Chosen Boards of Directors and Their Monitoring of the CEO1,719 cited
  • 2006Are Busy Boards Effective Monitors?1,675 cited
  • 2002Management's Incentives to Avoid Negative Earnings Surprises1,615 cited
  • 1999Chapter 38 Executive compensation

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Cited by

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  • 2013Voice pitch and the labor market success of male chief executive officers117 cited
  • 2016Revisiting the Effect of Family Involvement on Corporate Social Responsibility: A Behavioral Agency Perspective107 cited
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  • 2022CSR contracting and performance-induced CEO turnover80 cited
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  • 2018Do Auditors Recognize the Potential Dark Side of Executives' Accounting Competence?72 cited
  • 2023CEO career concerns in early tenure and corporate social responsibility reporting71 cited
  • 2023The bright side of analyst coverage on corporate innovation: Evidence from China70 cited
  • 2019Leadership succession in different types of organizations: What business and political successions may learn from each other67 cited