Abstract

http://ssrn.com/abstract=5327
 
 

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Top Executives, Turnover, and Firm Performance in Germany


Steven N. Kaplan


University of Chicago - Booth School of Business; National Bureau of Economic Research (NBER)


Journal of Law, Economics, & Organization: Volume 10 Number 1, April 1994.

Abstract:     
This article examines executive turnover--for both management and supervisory boards--and its relation to firm performance in the largest companies in Germany in the 1980s. Turnover of the management board increases significantly with poor stock performance and particularly poor (i.e., negative) earnings, but is unrelated to sales growth and earnings growth. These turnover performance relations do not vary with measures of stock ownership and bank voting power. Supervisory board appointments andturnover also increase with poor stock performance, but are unrelated to other measures of performance.

JEL Classification: G12, G32

Accepted Paper Series


Not Available For Download

Date posted: May 3, 2000  

Suggested Citation

Kaplan, Steven N., Top Executives, Turnover, and Firm Performance in Germany. Journal of Law, Economics, & Organization: Volume 10 Number 1, April 1994.. Available at SSRN: http://ssrn.com/abstract=5327

Contact Information

Steven Neil Kaplan (Contact Author)
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
773-702-4513 (Phone)
773-702-0458 (Fax)
National Bureau of Economic Research (NBER)
1050 Massachusetts Avenue
Cambridge, MA 02138
United States
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