Performance Changes Following Top Management Turnover

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Performance Changes Following Top Management Dismissals

Author : Diane K. Denis
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Performance Changes Following Top Management Dismissals by : Diane K. Denis

Download or read book Performance Changes Following Top Management Dismissals written by Diane K. Denis and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: We document that forced resignations of top managers are preceded by large and significant declines in operating performance and followed by large improvements in performance. However, forced resignations are rare and are due more often to external factors (e.g. blockholder pressure, takeover attempts, etc.) than to normal board monitoring. Following the management change, these firms significantly downsize their operations and are subject to a high rate of corporate control activity. Normal retirements are followed by small increases in operating income and are also subject to a slightly higher incidence of post-turnover corporate control activity.

Performance Changes Following Top Management Turnover

Author : Ajay Khorana
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Performance Changes Following Top Management Turnover by : Ajay Khorana

Download or read book Performance Changes Following Top Management Turnover written by Ajay Khorana and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper I examine the impact of mutual fund manager replacement on subsequent fund performance. Using a sample of 393 domestic equity and bond fund managers that were replaced over the 1979-1991 period, for the underperformers I document significant improvements in post-replacement performance relative to the past performance of the fund. On the other hand, the replacement of overperforming managers results in deterioration in post-replacement performance. I find evidence supporting the presence of strategic risk shifting in the fund portfolios prior to replacement. Furthermore, consistent with the notion of window dressing, I document that the level of portfolio turnover activity decreases significantly in the post-replacement period. Lastly, the replacement of poor performers is preceded by significant decreases in net new inflows in the fund.

The Handbook of Research on Top Management Teams

Author : Mason Andrew Carpenter
Publisher : Edward Elgar Publishing
ISBN 13 : 0857933205
Total Pages : 457 pages
Book Rating : 4.8/5 (579 download)

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Book Synopsis The Handbook of Research on Top Management Teams by : Mason Andrew Carpenter

Download or read book The Handbook of Research on Top Management Teams written by Mason Andrew Carpenter and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Handbook presents original research and theory on executives, top management teams, and boards of directors and illustrates the vital importance of this field of study. Top management teams are responsible for the strategic choices and major decisions in organizations. These organizations are a reflection of the members that make up their strategic management. The roles top management play and the impact they have are clearly visible in firms around the world, both large and small. The international group of authors that comprise this volume address questions central to the field of strategy and strategic leadership. They review the determinants of top management team composition, their social networks, and executive dismissal; the psychological and personality profiles of top executives; the methodologies relevant to the study of top teams; and the roles of top executives in cross business unit collaboration, competitive behavior, and strategic entrepreneurship. Each chapter presents path-breaking research and provides a roadmap for new research avenues and agendas. Professors, students and researchers in the area of strategy, management and strategic leadership will find this book an invaluable resource.

Mergers and Acquisitions: Performance consequences

Author : Simon Peck
Publisher : Taylor & Francis
ISBN 13 : 9780415226271
Total Pages : 494 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Mergers and Acquisitions: Performance consequences by : Simon Peck

Download or read book Mergers and Acquisitions: Performance consequences written by Simon Peck and published by Taylor & Francis. This book was released on 2002 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: This set includes articles from the four main fields which have influenced the study of Mergers and Acquisitions: Economics, Finance, Strategic Management and Human Resource Management. Featuring the key papers by individuals who shaped the field, the collection presents these formative pieces in thematically grouped sections, including coverage of: * Perspectives on the modern business corporation and the role of mergers and acquisitions: historical, financial, strategic and management * Causes of mergers and acquisitions activity * Performance impact of mergers and acquisitions activity * Public policy and the corporation The set features a comprehensive index and original introductory material.

Research Handbook on Executive Pay

Author : John S. Beasley
Publisher : Edward Elgar Publishing
ISBN 13 : 1781005109
Total Pages : 553 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Research Handbook on Executive Pay by : John S. Beasley

Download or read book Research Handbook on Executive Pay written by John S. Beasley and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 553 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research on executive compensation has exploded in recent years, and this volume of specially commissioned essays brings the reader up-to-date on all of the latest developments in the field. Leading corporate governance scholars from a range of countries set out their views on four main areas of executive compensation: the history and theory of executive compensation, the structure of executive pay, corporate governance and executive compensation, and international perspectives on executive pay. The authors analyze the two dominant theoretical approaches – managerial power theory and optimal contracting theory – and examine their impact on executive pay levels and the practices of concentrated and dispersed share ownership in corporations. The effectiveness of government regulation of executive pay and international executive pay practices in Australia, the US, Europe, China, India and Japan are also discussed. A timely study of a controversial topic, the Handbook will be an essential resource for students, scholars and practitioners of law, finance, business and accounting.

Top Management Turnover

Author : Prashanthi Nadarajah
Publisher :
ISBN 13 :
Total Pages : 348 pages
Book Rating : 4.:/5 (224 download)

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Book Synopsis Top Management Turnover by : Prashanthi Nadarajah

Download or read book Top Management Turnover written by Prashanthi Nadarajah and published by . This book was released on 2004 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Public Service Performance

Author : George A. Boyne
Publisher : Cambridge University Press
ISBN 13 : 1139460455
Total Pages : 312 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Public Service Performance by : George A. Boyne

Download or read book Public Service Performance written by George A. Boyne and published by Cambridge University Press. This book was released on 2006-11-23 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: The performance of governments around the globe is constantly in the spotlight, whether as a celebration or indictment of their activities. Providing evidence on strategies to improve the performance of public agencies is therefore essential to the practice of public management. Originally published in 2006, this important contribution to the debate explores issues of measurement, research methodology, and management influences on performance. It focuses on three key questions: what approaches should be adopted to measure the performance of public agencies? What aspects of management influence the performance of public agencies? As the world globalizes, what are the key international issues in performance measurement and management? In examining these questions, the contributors debate both methodological and technical issues regarding the measurement of performance in public organizations, and provide empirical analyses of the determinants of performance. The book concludes with groundbreaking work on the international dimensions of these issues.

Mutual Fund Performance and Performance Persistence

Author : Peter Lückoff
Publisher : Springer Science & Business Media
ISBN 13 : 3834965278
Total Pages : 604 pages
Book Rating : 4.8/5 (349 download)

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Book Synopsis Mutual Fund Performance and Performance Persistence by : Peter Lückoff

Download or read book Mutual Fund Performance and Performance Persistence written by Peter Lückoff and published by Springer Science & Business Media. This book was released on 2011-01-22 with total page 604 pages. Available in PDF, EPUB and Kindle. Book excerpt: Peter Lückoff investigates why fund flows and manager changes act as equilibrium mechanisms and drive the performance of both previously outperforming and previously underperforming funds back to average levels.

Top Management Turnover, Operational Changes and Organizational Performance

Author : Marta Pedro Varanda
Publisher :
ISBN 13 :
Total Pages : 122 pages
Book Rating : 4.:/5 (273 download)

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Book Synopsis Top Management Turnover, Operational Changes and Organizational Performance by : Marta Pedro Varanda

Download or read book Top Management Turnover, Operational Changes and Organizational Performance written by Marta Pedro Varanda and published by . This book was released on 1991 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Management Turnover and Corporate Governance Changes Following the Revelation of Fraud

Author : Anup Agrawal
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Management Turnover and Corporate Governance Changes Following the Revelation of Fraud by : Anup Agrawal

Download or read book Management Turnover and Corporate Governance Changes Following the Revelation of Fraud written by Anup Agrawal and published by . This book was released on 2011 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Anecdotal evidence suggests that top managers of firms that are investigated for fraud lose their jobs. Fraud scandals plausibly create incentives to change managers, in an attempt to improve the firm's performance, recover lost reputational capital, or limit the firm's exposure to liabilities that arise from the fraud. It also is possible that fraud creates incentives to change the composition of the firm's board, to improve the external monitoring of managers or to rent new directors' valuable reputational or political capital. Despite such claims, we find little systematic evidence that firms suspected or charged with fraud have unusually high turnover among senior managers or directors. In univariate comparisons, there is some evidence that firms committing fraud have higher managerial and director turnover. But in multivariate tests that control for other firm attributes, such evidence disappears. These findings indicate that the revelation of fraud does not, in general, increase the net benefits to changing managers or the firm's leadership structure.

Contemporary Trends and Challenges in Finance

Author : Krzysztof Jajuga
Publisher : Springer
ISBN 13 : 3319762281
Total Pages : 247 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis Contemporary Trends and Challenges in Finance by : Krzysztof Jajuga

Download or read book Contemporary Trends and Challenges in Finance written by Krzysztof Jajuga and published by Springer. This book was released on 2018-04-27 with total page 247 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume includes a selection of the contributions presented at the Wroclaw conference in Finance, covering a wide range of topics in the area of finance. The articles reflect the extent, diversity and richness of research areas in the field. Discussing both fundamental and applied finance, it offers a detailed analysis of current financial-market problems including specifics of Polish and Central European markets. It also examines the results of advanced financial modeling. These proceedings are a valuable resource for researchers in universities and research and policy institutions, graduate students and practitioners in economics, finance and international economics in both private and government institutions.

Corporate Governance and Corporate Finance

Author : Ruud A.I. van Frederikslust
Publisher : Routledge
ISBN 13 : 1134136056
Total Pages : 780 pages
Book Rating : 4.1/5 (341 download)

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Book Synopsis Corporate Governance and Corporate Finance by : Ruud A.I. van Frederikslust

Download or read book Corporate Governance and Corporate Finance written by Ruud A.I. van Frederikslust and published by Routledge. This book was released on 2007-12-18 with total page 780 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pt. 1. Alternative perspectives on corporate governance systems -- pt. 2. Equity ownership structure and control -- pt. 3. Corporate governance, underperformance and management turnover -- pt. 4. Directors' remuneration -- pt. 5. Governance, performance and financial strategy -- pt. 6. On takeover as disciplinary mechanism.

Institutional Approach to Global Corporate Governance

Author : J. Jay Choi
Publisher : Emerald Group Publishing
ISBN 13 : 184855320X
Total Pages : 533 pages
Book Rating : 4.8/5 (485 download)

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Book Synopsis Institutional Approach to Global Corporate Governance by : J. Jay Choi

Download or read book Institutional Approach to Global Corporate Governance written by J. Jay Choi and published by Emerald Group Publishing. This book was released on 2008-11-01 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contains papers examining issues concerning the effects of national and international institutional factors on corporate governance and performance. This volume focuses on the relevance of national business systems alongside industrial and institutional infrastructure to assess the efficacy of corporate governance regimes.

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.

Cadbury committee, corporate performance and top management turnover

Author : Jay Dahya
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Cadbury committee, corporate performance and top management turnover by : Jay Dahya

Download or read book Cadbury committee, corporate performance and top management turnover written by Jay Dahya and published by . This book was released on 1999 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Theory of the Firm

Author : Michael C. Jensen
Publisher : Harvard University Press
ISBN 13 : 9780674012295
Total Pages : 342 pages
Book Rating : 4.0/5 (122 download)

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Book Synopsis A Theory of the Firm by : Michael C. Jensen

Download or read book A Theory of the Firm written by Michael C. Jensen and published by Harvard University Press. This book was released on 2003-09-30 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection examines the forces, both external and internal, that lead corporations to behave efficiently and to create wealth. Corporations vest control rights in shareholders, the author argues, because they are the constituency that bear business risk and therefore have the appropriate incentives to maximize corporate value. Assigning control to any other group would be tantamount to allowing that group to play poker with someone else's money, and would create inefficiencies. The implicit denial of this proposition is the fallacy of the so-called stakeholder theory of the corporation, which argues that corporations should be run in the interests of all stakeholders. This theory offers no account of how conflicts between different stakeholders are to be resolved, and gives managers no principle on which to base decisions, except to follow their own preferences. In practice, shareholders delegate their control rights to a board of directors, who hire, fire, and set the compensation of the chief officers of the firm. However, because agents have different incentives than the principals they represent, they can destroy corporate value unless closely monitored. This happened in the 1960s and led to hostile takeovers in the market for corporate control in the 1970s and 1980s. The author argues that the takeover movement generated increases in corporate efficiency that exceeded $1.5 trillion and helped to lay the foundation for the great economic boom of the 1990s.

The Rhythm of Change

Author : Prof. Dr. Patricia Klarner
Publisher : Springer Science & Business Media
ISBN 13 : 3834960446
Total Pages : 282 pages
Book Rating : 4.8/5 (349 download)

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Book Synopsis The Rhythm of Change by : Prof. Dr. Patricia Klarner

Download or read book The Rhythm of Change written by Prof. Dr. Patricia Klarner and published by Springer Science & Business Media. This book was released on 2010-08-12 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Patricia Klarner adopts a new approach to analyze strategic changes and introduces the rhythm of change as a concept that measures the timing of repeated changes. She provides a state-of-the-art view of the optimal timing of strategic changes in organizations and the factors underlying successful repeated change efforts.