Ownership Structure and Board Characteristics as Determinants of CEO Turnover in French-Listed Companies

Bang Dang Nguyen

Finance, 2011, vol. 32, issue 2, 53-89

Abstract: This paper investigates whether ownership structure and board characteristics determine CEO turnover in a sample of largest French-listed firms from 1994 to 2001. The results show that CEO turnover is negatively and significantly related to prior accounting and stock performance. Controlling for prior performance, ownership structure and characteristics of boards of directors impact the sensitivity of CEO turnover to prior performance. Firms with blockholders, high government ownership, two-tier boards, and larger boards are less likely to dismiss CEOs for poor performance. Institutional investors and their co-existence with large blockholders, do not impact the sensitivity of CEO turnover to prior performance

Date: 2011
References: Add references at CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=FINA_322_0053 (application/pdf)
http://www.cairn.info/revue-finance-2011-2-page-53.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:finpug:fina_322_0053

Access Statistics for this article

More articles in Finance from Presses universitaires de Grenoble
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().