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

Christian Bayer () and Carsten Burhop
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Carsten Burhop: Universität Münster

Economic History from University Library of Munich, Germany

Abstract: We analyze 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 are unrelated, wheras after the reform more succesfull managers leave firms more seldom. However, only short run performance matters.

Keywords: Management turnover; Performance; Banking; late 19th century Germany (search for similar items in EconPapers)
JEL-codes: G30 J33 N23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his
Date: 2005-02-14
Note: Type of Document - pdf; pages: 9
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