If only I could sack you! Management turnover and performance in Great German Banks between 1874 and 1913

Christian Bayer and Carsten Burhop

Applied Economics Letters, 2009, vol. 16, issue 2, 141-145

Abstract: We analyse the relation of firm performance and managerial turnover in 19th century German banking by probit estimation. This period covers a major reform of corporate governance. Before the reform performance and turnover were unrelated, whereas after the reform more successful managers left firms more seldom. However, only short-run performance matters in this turnover-success relationship.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:16:y:2009:i:2:p:141-145

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DOI: 10.1080/13504850601018205

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