The Role of Disclosure in Motiving Top Executives : Evidence from China

Language: English

Published by LAP LAMBERT Academic Publishing, 2018

613662690X / 9786136626901

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Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH

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nach der Bestellung gedruckt Neuware - Printed after ordering - Only 30% of companies have a board-approved CEO succession plan evaluated by the directors periodically before 2009, according to many recent surveys and firms' proxy statements. Using a new database of 10,835 CEOs and hand-collected information of succession plans, in conjunction with two regulatory changes and differences-in-differences identification strategy, we present evidence that better corporate governance instigate firms to adopt succession plans, which causes significant reduction of the incumbent CEOs' entrenchment and improvement of the incoming CEOs' quality. A value-weighted portfolio of the firms disclosing CEO succession plans earned an annual three-factor alpha of 2.7% from 1998-2013, and 14% after 2009.

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Bibliographic details

Title
The Role of Disclosure in Motiving Top Executives : Evidence from China
Author
Qianru Cheryl Qi
Publisher
LAP LAMBERT Academic Publishing
Publication year
2018
Condition
Neu
Binding
Taschenbuch
Language
English
ISBN 10
613662690X
ISBN 13
9786136626901
Item weight
185 grams
Dimensions
220x150x7 mm

AHA-BUCH GmbH

Einbeck, Germany

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AbeBooks seller since August 14, 2006

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