Don’t stop me now! Effects of CEO turnover on the performance of public institutions

Hoyong Jung

Applied Economics Letters, 2023, vol. 30, issue 19, 2725-2731

Abstract: This study explored the impact of CEO turnover during the term of office on public institutions’ performance. We examined the unique situation of South Korea – using an exogenously generated remaining term of office due to former President Park Geun-hye’s impeachment in 2017 as an instrumental variable (IV) for the event of CEO turnover – to identify causal relations. The results showed that public institutions’ performance declined when the CEO was replaced after failing to serve the three-year term. Our findings suggest that safeguarding CEOs’ stable positions from political influences is crucial to enhancing public institutions’ performance.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:30:y:2023:i:19:p:2725-2731

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DOI: 10.1080/13504851.2022.2106027

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