STOCKHOLDER REACTIONS TO DEPARTURES AND APPOINTMENTS OF KEY EXECUTIVES ATTRIBUTABLE TO FIRINGS.
Academy of Management JournalPublished 1 April 1993
D. L. Worrell, Wallace N. Davidson, John L. Glascock
Citations85
SJR quartileQ1
SJR score10.53
SNIP3.95
Generate an AI Snapshot to get a quick, structured summary of this paper.
Study Snapshot
ObjectiveStudy objective
MethodsResearch methodology
PopulationPopulation studied
Sample sizeSample sizes
OutcomesStudy outcomes here
ResultsStudy results comes here
LimitationsResearch study limitations comes here
A concise AI-generated summary of the paper will appear here once you click Generate AI Snapshot.
Abstract
This study investigated investors' reactions to announcements of the firings of key executives made over the 25-year period 1963–1987. We found announcements containing information about permanent ...
Keywords
Economics, Econometrics and FinanceBusiness, Management and Accounting
Journal of Financial EconomicsTheory of the firm: Managerial behavior, agency costs and ownership structure
70,674 Citations1976Michael C. Jensen, William H. Meckling
Journal of Political EconomyAgency Problems and the Theory of the Firm
10,479 Citations1980Eugene F. Fama
Production, Information Costs and Economic Organization
9,751 Citations1996Armen A. Alchian, Harold Demsetz
Journal of Financial EconomicsStock prices and top management changes
1,638 Citations1988Jerold B. Warner, Ross L. Watts +1 more
Academy of Management ReviewWho Controls Whom? An Examination of the Relation Between Management and Boards of Directors in Large American Corporations<sup />
504 Citations1983Mark S. Mizruchi
Academy of Management ReviewA Model of CEO Dismissal
468 Citations1988James W. Fredrickson, Donald C. Hambrick +1 more
Academy of Management JournalCEO SUCCESSION AND STOCKHOLDER REACTION: THE INFLUENCE OF ORGANIZATIONAL CONTEXT AND EVENT CONTENT.
354 Citations1989Stewart D. Friedman, H. SINGH
Academy of Management JournalORGANIZATIONAL PERFORMANCE AS AN ANTECEDENT OF INSIDE/OUTSIDE CHIEF EXECUTIVE SUCCESSION: AN EMPIRICAL ASSESSMENT.
333 Citations1985D. R. Dalton, Idalene F. Kesner
Strategic Management JournalCeo change and firm performance in large corporations: Succession effects and manager effects
275 Citations1987Randolph P. Beatty, Edward J. Zajac
The results suggest that announcements of CEO changes are typically associated with a reduction in the value of the firm, as reflected in the perceptions of the stock market, and that CEO successors tend to significantly influence the production and investment decisions of their firms.
Administrative Science QuarterlyManagerial Succession and Organizational Performance: A Recalcitrant Problem Revisited
274 Citations1979Michael P. Allen, Sharon K. Panian +1 more
Journal of Accounting and EconomicsAn analysis of stock price reaction to management change in distressed firms
212 Citations1989Karl-Adam Bonnier, Robert F. Bruner
Technology in SocietyExecutive succession, strategic reorientations, and organization evolution
162 Citations1985Michael L. Tushman, Beverly Virany +1 more
It is suggested that performance shortfalls drive executive succession in low performers, while strategic reorientations prompt succession for high-performing firms, and only when executive succession occurs with reorientation does future organization performance increase.
Academy of Management JournalEXECUTIVE SUCCESSION IN FAILING FIRMS.
156 Citations1985K. Schwartz, Kenneth Menon
Academy of Management JournalSTOCKHOLDER REACTION TO CEO CHANGES IN LARGE CORPORATIONS.
132 Citations1989Michael Lubatkin, K. H. Chung +2 more
Academy of Management JournalMANAGEMENT TURNOVER THROUGH DEATHS OF KEY EXECUTIVES: EFFECTS ON INVESTOR WEALTH.
116 Citations1986D. L. Worrell, Wallace N. Davidson +2 more
Journal of ManagementThe Effect of CEO Succession on Stockholder Wealth in Large Firms Following the Death of the Predecessor
68 Citations1987D. L. Worrell, Wallace N. Davidson
