Abstract

http://ssrn.com/abstract=1313274
 
 

References (40)



 


 



Do Delaware CEOs Get Fired?


Murali Jagannathan


State University of New York (SUNY) at Binghamton

Adam C. Pritchard


University of Michigan Law School

January 20, 2016

U of Michigan Law & Economics, Olin Working Paper No. 08-024

Abstract:     
Critics have charged that state competition in corporate law, which Delaware dominates, leads to a “race to the bottom” making management unaccountable. One metric of management accountability is forced CEO turnover, which we use to test the race-to-the-bottom hypothesis. We find that Delaware CEOs are more likely to be forced out relative to firms incorporated in other jurisdictions. After controlling for differences in firm characteristics, we find that firms incorporated in Delaware are still more likely to terminate CEOs, but that termination decision is less sensitive to poor performance.

Number of Pages in PDF File: 43

Keywords: Corporate governance, charter competition, CEO turnover

JEL Classification: G30, G34, K22


Open PDF in Browser Download This Paper

Date posted: December 11, 2008 ; Last revised: January 23, 2016

Suggested Citation

Jagannathan, Murali and Pritchard, Adam C., Do Delaware CEOs Get Fired? (January 20, 2016). U of Michigan Law & Economics, Olin Working Paper No. 08-024. Available at SSRN: http://ssrn.com/abstract=1313274 or http://dx.doi.org/10.2139/ssrn.1313274

Contact Information

Murali Jagannathan (Contact Author)
State University of New York (SUNY) at Binghamton ( email )
P.O. Box 6015
Binghamton, NY 13902-6015
United States
607-777-4639 (Phone)
Adam C. Pritchard
University of Michigan Law School ( email )
625 South State Street
Ann Arbor, MI 48109-1215
United States
734-647-4048 (Phone)
734-647-7349 (Fax)

Feedback to SSRN


Paper statistics
Abstract Views: 1,464
Downloads: 220
Download Rank: 96,000
References:  40

© 2016 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollobot1 in 0.859 seconds