The Cadbury Committee, Corporate Performance And Top Management Turnover  

Oleh:

Dahya, Jay ; McConnell, John J. ; Travlos, Nickolaos G.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 57 no. 1 (2002), page 461-484.
Topik: Performance; chief executive officers; studies; performance evaluation; corporate governance
Fulltext: p 461.pdf (108.23KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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In 1992, the cadbury committee issued the code of best practice which recommends that boards of U. K. corporations include at least three outside directors and that the positions of chairman and CEO be held by diffirent individuals. The underlying presumption was that these recommendations would lead to improved board oversight. We empirically analyze the relationship between CEO turnover and corporate performance. CEO turnover increased following issuance of the code, the negative relationship between CEO turnover and performance became stronger following the code's issuance, and the increase in sensitivity of turnover to performance was concentrated among firms that adopted the code.

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