Ceo Turnover And Firm Diversification

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CEO Turnover and Firm Diversification

Author : Tammy K. Berry
Publisher :
ISBN 13 :
Total Pages : 41 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis CEO Turnover and Firm Diversification by : Tammy K. Berry

Download or read book CEO Turnover and Firm Diversification written by Tammy K. Berry and published by . This book was released on 2014 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We test theories of managerial entrenchment and ability matching by examining the relation between CEO turnover and the level of firm diversification. Our results indicate that CEO turnover in diversified firms is completely insensitive to firm performance. Additional analysis indicates that for diversified firms voluntary turnover is not sensitive to firm performance, but that forced turnover is sensitive to performance. Even when turnover is forced, however, we find little evidence of restructuring of a diversified firm following CEO succession. We also find that new CEOs in diversified firms are paid more than CEOs in focused firms, and that the compensation premium is invariant to whether the turnover was voluntary or forced. Finally, we find evidence that diversified firms are more likely to have a formal succession plan, to replace the existing CEO with an insider, and hire older more educated executives. Taken together, the findings suggest that diversified firms tend to manage the succession process more carefully because they require CEOs with greater ability. The findings are not consistent with managerial entrenchment. Our study provides new evidence on how the nature and scope of the organization affects the succession process.

Corporate Diversification & CEO Turnover in Family Business

Author : Pascal Nader
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis Corporate Diversification & CEO Turnover in Family Business by : Pascal Nader

Download or read book Corporate Diversification & CEO Turnover in Family Business written by Pascal Nader and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Through the business world history, the chief executive officers (CEO's), the chief financial officers (CFO's), managers, and directors... are the main players in using their potentials for the companies, stakeholders' benefits, and profits. The family business represents a major organizational management system in business. Over the past decades, this organizational system has proved a high reputation for its malleability and flexibility regarding the management, the performance, the controlling system, the profitability and the turnovers. Therefore, the family business currently forms a competitive advantage comparing with other several international firms. This research shows that major family-controlled businesses (FCBs) actually outperform other types of businesses. It examines the nature of such family businesses in an attempt to explain why some seem to do so well, and others so poorly. Accordingly, this study examines the ability to apply the relationship between diversification in family business and the CEO's turnovers. The results were obtained after conducting an analysis on a sample of Lebanese family business firms located in Beirut area.

Corporate Diversification and CEO Turnover Among Financially Distressed Firms

Author : Jana L. Cook
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (928 download)

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Book Synopsis Corporate Diversification and CEO Turnover Among Financially Distressed Firms by : Jana L. Cook

Download or read book Corporate Diversification and CEO Turnover Among Financially Distressed Firms written by Jana L. Cook and published by . This book was released on 2013 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive examination of the differences in compensation and turnover between domestic and multinational firms in distress from 2003 -- 2008 was completed. An examination of three major theories of turnover is examined within the boundaries of distressed firms and support is found for the Scapegoat Theory as proposed by Huson in 2004. The results found no significant differences between total compensation levels between domestic and international firms. And with turnover rates of 26 percent and 51 percent, these groups have only board size as a significant impacting variable.

Corporate Governance and Firm Diversification

Author : Ronald C. Anderson
Publisher :
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Corporate Governance and Firm Diversification by : Ronald C. Anderson

Download or read book Corporate Governance and Firm Diversification written by Ronald C. Anderson and published by . This book was released on 1998 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: We empirically investigate the relationship between corporate governance structure and diversification. Using a sample of 199 firms beginning in 1985 and following these firms through 1994, we examine 1) if governance structure is significantly different between focused and diversified firms; 2) if differences in corporate governance are associated with the decision to become more focused or diverse; and 3) if the previously documented value loss from diversification is associated with governance structure. We find that, relative to focused firms, diversified firms exhibit higher levels of pay and lower sensitivity of pay to firm performance, have more outsiders on the board, have similar sensitivity of CEO turnover to performance, and no economic difference in independent blockholdings. We find that firms that increase their level of diversification over the sample period have governance and performance characteristics remarkably similar to firms that retain their focus. Firms that decrease their level of diversification, however, have lower insider ownership but more equity-based compensation relative to focused firms. We find no evidence that governance characteristics explain the value loss associated with diversification. We do find, however, that the fraction of outside directors in a diversified firm is positively related to firm value. Collectively, our results suggest that diversified firms use alternative governance mechanisms as substitutes for low pay-for-performance sensitivity and CEO ownership. We conclude that agency costs do not provide a complete explanation for the magnitude and persistence of the diversification discount.

Corporate Diversification & CEO Turnover in Family Businesses

Author : Georges Menassa
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)

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Book Synopsis Corporate Diversification & CEO Turnover in Family Businesses by : Georges Menassa

Download or read book Corporate Diversification & CEO Turnover in Family Businesses written by Georges Menassa and published by . This book was released on 2011 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Downscoping

Author : Robert E. Hoskisson
Publisher : Oxford University Press, USA
ISBN 13 : 0195078438
Total Pages : 223 pages
Book Rating : 4.1/5 (95 download)

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Book Synopsis Downscoping by : Robert E. Hoskisson

Download or read book Downscoping written by Robert E. Hoskisson and published by Oxford University Press, USA. This book was released on 1994 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relationship between a firm's diversification and its competitiveness.

Passing the Baton

Author : Richard F. Vancil
Publisher : Harvard Business Review Press
ISBN 13 :
Total Pages : 352 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Passing the Baton by : Richard F. Vancil

Download or read book Passing the Baton written by Richard F. Vancil and published by Harvard Business Review Press. This book was released on 1987 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Contemporary Issues in Financial Reporting, Auditing and Corporate Governance (UUM Press)

Author : Noor Afza Amran
Publisher : UUM Press
ISBN 13 : 9670474566
Total Pages : 198 pages
Book Rating : 4.6/5 (74 download)

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Book Synopsis Contemporary Issues in Financial Reporting, Auditing and Corporate Governance (UUM Press) by : Noor Afza Amran

Download or read book Contemporary Issues in Financial Reporting, Auditing and Corporate Governance (UUM Press) written by Noor Afza Amran and published by UUM Press. This book was released on 2013-01-01 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary Issues in Financial Reporting, Auditing and Corporate Governance offers theoretical and empirical background on three fundamental areas of accounting, namely financial reporting, auditing and corporate governance. This book is written in a clear and reader-friendly manner to create readers’ interest in the central issues of discussion. The uniqueness of this book is in its extensive coverage of national and internationally-oriented issues of financial reporting, auditing and corporate governance. This book is ideal for accounting and business related courses at upper undergraduate and post-graduate levels. With its broad coverage, the book should also be of interest to academicians, professionals, corporate managers, regulatory bodies and researchers.

Why CEOs Fail

Author : David L. Dotlich
Publisher : John Wiley & Sons
ISBN 13 : 0470330708
Total Pages : 206 pages
Book Rating : 4.4/5 (73 download)

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Book Synopsis Why CEOs Fail by : David L. Dotlich

Download or read book Why CEOs Fail written by David L. Dotlich and published by John Wiley & Sons. This book was released on 2007-12-10 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Führungskräfte in Unternehmen wollen erfolgreich sein. Doch nicht selten sabotieren sie ihren Erfolg, weil sie zu bestimmten negativen Verhaltensweisen neigen - den sog. 11 Todsünden. Obwohl dieselben Verhaltensweisen sie in gewissem Maße in diese Führungsposition gebracht haben mögen, können sie ab einem bestimmten Zeitpunkt negativ, ja zerstörerisch werden. "Why CEOs Fail" ist ein praktischer Leitfaden, wie man diese 11 Todsünden vermeidet. Die Autoren - beide Psychologen und erfahrene Coaches mit internationaler Klientel - erläutern hier in kurzen, übersichtlichen Kapiteln die 11 Todsünden am Beispiel von zahlreichen pikanten Geschichten und lehrreichen Anekdoten aus ihrer täglichen Beratungspraxis. Überzeugend, direkt und präzise auf den Punkt gebracht! Mit einem Vorwort von Ram Charan, dem Mitautor des Mega-Bestsellers "Execution". "Why CEOs Fail" - Eine fesselnde und inspirierende Lektüre, wie man die typischen Verhaltensfehler meidet und als Führungskraft erfolgreich ist.

The Critical Few

Author : Jon R. Katzenbach
Publisher : Berrett-Koehler Publishers
ISBN 13 : 1523098732
Total Pages : 209 pages
Book Rating : 4.5/5 (23 download)

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Book Synopsis The Critical Few by : Jon R. Katzenbach

Download or read book The Critical Few written by Jon R. Katzenbach and published by Berrett-Koehler Publishers. This book was released on 2019-01-16 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a global survey by the Katzenbach Center, 80 percent of respondents believed that their organization must evolve to succeed. But a full quarter of them reported that a change effort at their organization had resulted in no visible results. Why? The fate of any change effort depends on whether and how leaders engage their culture: the self-sustaining patterns of behaving, feeling, thinking, and believing that determine how things are done in an organization. Culture is implicit rather than explicit, emotional rather than rational--that's what makes it so hard to work with, but that's also what makes it so powerful. For the first time, this book lays out the Katzenbach Center's proven methodology for identifying your culture's four most critical elements: traits, characteristics that are at the heart of people's emotional connection to what they do; keystone behaviors, actions that would lead your company to succeed if they were replicated at a greater scale; authentic informal leaders, people who have a high degree of "emotional intuition" or social connectedness; and metrics, integrated, thoughtful measures to track progress, encourage the self-reinforcing cycle of lasting change and link to business performance. By leveraging these critical few elements, you can tap into a source of catalytic change within your organization. People will make an emotional, not just a rational, commitment to new initiatives. You will elicit enthusiasm and creativity and build the kind of powerful company that people recognize for its innate value and effectiveness.

Corporate Diversification

Author : Brooks Fenno
Publisher :
ISBN 13 : 9781480863064
Total Pages : 126 pages
Book Rating : 4.8/5 (63 download)

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Book Synopsis Corporate Diversification by : Brooks Fenno

Download or read book Corporate Diversification written by Brooks Fenno and published by . This book was released on 2018-07-10 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are your core corporate growth opportunities limited? Do you seek new avenues for expansion? Is the timing opportune to consider such a quest? If you are the owner or executive of a small to mid-sized manufacturing or service company then this book is a must-read. The text includes a broad range of diversification options supported by numerous practical examples of companies of all sizes that have embarked on a strategy involving diversification. It lists the many and various types of diversification - vertical, horizontal, and tangential - available for growth and explains how they might be identified, evaluated, and effectively pursued. Opportunities and risks of each of the categories are addressed as well.

Corporate Diversification

Author : E. Ralph Biggadike
Publisher :
ISBN 13 :
Total Pages : 256 pages
Book Rating : 4.:/5 (43 download)

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Book Synopsis Corporate Diversification by : E. Ralph Biggadike

Download or read book Corporate Diversification written by E. Ralph Biggadike and published by . This book was released on 1979 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt:

CEO Turnover and the Firm's Investment Decisions

Author : Michael S. Weisbach
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis CEO Turnover and the Firm's Investment Decisions by : Michael S. Weisbach

Download or read book CEO Turnover and the Firm's Investment Decisions written by Michael S. Weisbach and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relation between management turnover and divestitures of recently acquired divisions. The empirical results indicate that at the time of a management change, there is an increased probability of divesting an acquisition at a loss or one considered unprofitable by the press. The probability increases by about the same amount regardless of whether the change is an apparent age-65 retirement or a resignation. Overall, the results are consistent with a variety of agency-based theories of corporate investment and suggest that management changes are important events for corporations because they lead to reversals of poor prior decisions.

Strategic Leadership

Author : Sydney Finkelstein
Publisher : Strategic Management
ISBN 13 : 0195162072
Total Pages : 480 pages
Book Rating : 4.1/5 (951 download)

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Book Synopsis Strategic Leadership by : Sydney Finkelstein

Download or read book Strategic Leadership written by Sydney Finkelstein and published by Strategic Management. This book was released on 2009 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book integrates and assesses the vast and rapidly growing literature on strategic leadership, which is the study of top executives and their effects on organizations. The basic premise is that in order to understand why organizations do the things they do, or perform the way they do, we need to deeply comprehend the people at the top-- their experiences, abilities, values, social connections, aspirations, and other human features. The actions--or inactions--of a relatively small number of key people at the apex of an organization can dramatically affect organizational outcomes. The scope of strategic leadership includes individual executives, especially chief executive officers (CEOs), groups of executives (top management teams, or TMTs); and governing bodies (particularly boards of directors). Accordingly, the book addresses an array of topics regarding CEOs (e.g., values, personality, motives, demography, succession, and compensation); TMTs (including composition, processes, and dynamics); and boards of directors (why boards look and behave the way they do, and the consequences of board profiles and behaviors). Strategic Leadership synthesizes what is known about strategic leadership and indicates new research directions. The book is meant primarily for scholars who strive to assess and understand the phenomena of strategic leadership. It offers a considerable foundation on which professionals involved in executive search, compensation, appraisal and staffing, as well as board members who evaluate executive performance and potential, might build their tools and perspectives.

Legitimacy Needs as Drivers of Business Exit

Author : Carolin Decker
Publisher : Springer Science & Business Media
ISBN 13 : 3834997595
Total Pages : 195 pages
Book Rating : 4.8/5 (349 download)

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Book Synopsis Legitimacy Needs as Drivers of Business Exit by : Carolin Decker

Download or read book Legitimacy Needs as Drivers of Business Exit written by Carolin Decker and published by Springer Science & Business Media. This book was released on 2008-08-28 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Carolin Decker develops and empirically applies a framework in which business exits serve the purpose of re-establishing a firm’s previously harmed legitimacy. Her findings support the idea that legitimacy needs drive the likelihood of fit-enhancing business exits in divesting firms.

Executive Compensation and Shareholder Value

Author : Jennifer Carpenter
Publisher : Springer Science & Business Media
ISBN 13 : 1475751923
Total Pages : 159 pages
Book Rating : 4.4/5 (757 download)

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Book Synopsis Executive Compensation and Shareholder Value by : Jennifer Carpenter

Download or read book Executive Compensation and Shareholder Value written by Jennifer Carpenter and published by Springer Science & Business Media. This book was released on 2013-04-17 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Executive compensation has gained widespread public attention in recent years, with the pay of top U.S. executives reaching unprecedented levels compared either with past levels, with the remuneration of top executives in other countries, or with the wages and salaries of typical employees. The extraordinary levels of executive compensation have been achieved at a time when U.S. public companies have realized substantial gains in stock market value. Many have cited this as evidence that U.S. executive compensation works well, rewarding managers who make difficult decisions that lead to higher shareholder values, while others have argued that the overly generous salaries and benefits bear little relation to company performance. Recent conceptual and empirical research permits for the first time a truly rigorous debate on these and related issues, which is the subject of this volume.

Individual and Organizational Factors Surrounding Top Executive Turnover

Author : Stephanie Brecht-Bergen
Publisher : Logos Verlag Berlin GmbH
ISBN 13 : 3832546731
Total Pages : 226 pages
Book Rating : 4.8/5 (325 download)

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Book Synopsis Individual and Organizational Factors Surrounding Top Executive Turnover by : Stephanie Brecht-Bergen

Download or read book Individual and Organizational Factors Surrounding Top Executive Turnover written by Stephanie Brecht-Bergen and published by Logos Verlag Berlin GmbH. This book was released on 2018 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author analyzes the multi-faceted phenomenon of top executive turnover from various theoretical angles and empirically shows how individual and organizational factors such as performance, compensation and gender relate to it. Managerial implications on how to deal with turnover in times of talent shortage are derived. The book contributes to turnover research in three distinct ways. From a corporate governance perspective, it inspects potential antecedents and consequences of top executive dismissal with a focus on firm performance consequences. Taking a labor economics view, it scrutinizes compensation structure as a likely antecedent of voluntary turnover. From an OB and HRM angle, it examines gender as a characteristic of top executives and possible antecedent of turnover.