IDEAS home Printed from https://ideas.repec.org/a/bla/stratm/v37y2016i6p1107-1117.html
   My bibliography  Save this article

How CEOs protect themselves against dismissal: A social status perspective

Author

Listed:
  • Miriam Flickinger
  • Markus Wrage
  • Anja Tuschke
  • Rudi Bresser

Abstract

No abstract is available for this item.

Suggested Citation

  • Miriam Flickinger & Markus Wrage & Anja Tuschke & Rudi Bresser, 2016. "How CEOs protect themselves against dismissal: A social status perspective," Strategic Management Journal, Wiley Blackwell, vol. 37(6), pages 1107-1117, June.
    • Handle: RePEc:bla:stratm:v:37:y:2016:i:6:p:1107-1117
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1002/smj.2382
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Barro, Jason R & Barro, Robert J, 1990. "Pay, Performance, and Turnover of Bank CEOs," Journal of Labor Economics, University of Chicago Press, vol. 8(4), pages 448-481, October.
    2. Goergen, Marc & Manjon, Miguel C. & Renneboog, Luc, 2008. "Recent developments in German corporate governance," International Review of Law and Economics, Elsevier, vol. 28(3), pages 175-193, September.
    3. Rebecca L. Sandefur & Edward O. Laumann, 1998. "A Paradigm For Social Capital," Rationality and Society, , vol. 10(4), pages 481-501, November.
    4. Kaplan, Steven N, 1994. "Top Executives, Turnover, and Firm Performance in Germany," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 10(1), pages 142-159, April.
    5. Hwang, Byoung-Hyoun & Kim, Seoyoung, 2009. "It pays to have friends," Journal of Financial Economics, Elsevier, vol. 93(1), pages 138-158, July.
    6. Denis, David J. & Denis, Diane K. & Sarin, Atulya, 1997. "Ownership structure and top executive turnover," Journal of Financial Economics, Elsevier, vol. 45(2), pages 193-221, August.
    7. Craig Crossland & Donald C. Hambrick, 2007. "How national systems differ in their constraints on corporate executives: a study of CEO effects in three countries," Strategic Management Journal, Wiley Blackwell, vol. 28(8), pages 767-789, August.
    8. Warner, Jerold B. & Watts, Ross L. & Wruck, Karen H., 1988. "Stock prices and top management changes," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 461-492, January.
    9. Donald C. Hambrick & Sydney Finkelstein, 1995. "The effects of ownership structure on conditions at the top: The case of CEO pay raises," Strategic Management Journal, Wiley Blackwell, vol. 16(3), pages 175-193.
    10. Mark R. Huson & Robert Parrino & Laura T. Starks, 2001. "Internal Monitoring Mechanisms and CEO Turnover: A Long‐Term Perspective," Journal of Finance, American Finance Association, vol. 56(6), pages 2265-2297, December.
    11. Qing Cao & Likoebe M. Maruping & Riki Takeuchi, 2006. "Disentangling the Effects of CEO Turnover and Succession on Organizational Capabilities: A Social Network Perspective," Organization Science, INFORMS, vol. 17(5), pages 563-576, October.
    12. Demsetz, Harold & Lehn, Kenneth, 1985. "The Structure of Corporate Ownership: Causes and Consequences," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1155-1177, December.
    13. Weisbach, Michael S., 1988. "Outside directors and CEO turnover," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 431-460, January.
    14. Martin Gargiulo & Mario Benassi, 2000. "Trapped in Your Own Net? Network Cohesion, Structural Holes, and the Adaptation of Social Capital," Organization Science, INFORMS, vol. 11(2), pages 183-196, April.
    15. Coughlan, Anne T. & Schmidt, Ronald M., 1985. "Executive compensation, management turnover, and firm performance : An empirical investigation," Journal of Accounting and Economics, Elsevier, vol. 7(1-3), pages 43-66, April.
    16. Denis, David J & Denis, Diane K, 1995. "Performance Changes Following Top Management Dismissals," Journal of Finance, American Finance Association, vol. 50(4), pages 1029-1057, September.
    17. Kim, Yungsan, 1996. "Long-Term Firm Performance and Chief Executive Turnover: An Empirical Study of the Dynamics," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 12(2), pages 480-496, October.
    18. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    19. Goyal, Vidhan K. & Park, Chul W., 2002. "Board leadership structure and CEO turnover," Journal of Corporate Finance, Elsevier, vol. 8(1), pages 49-66, January.
    20. Ai, Chunrong & Norton, Edward C., 2003. "Interaction terms in logit and probit models," Economics Letters, Elsevier, vol. 80(1), pages 123-129, July.
    21. Brickley, James A., 2003. "Empirical research on CEO turnover and firm-performance: a discussion," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 227-233, December.
    22. DeFond, Mark L. & Park, Chul W., 1999. "The effect of competition on CEO turnover1," Journal of Accounting and Economics, Elsevier, vol. 27(1), pages 35-56, February.
    23. Mark L. Defond & Mingyi Hung, 2004. "Investor Protection and Corporate Governance: Evidence from Worldwide CEO Turnover," Journal of Accounting Research, Wiley Blackwell, vol. 42(2), pages 269-312, May.
    24. Yan Zhang, 2008. "Information asymmetry and the dismissal of newly appointed CEOs: an empirical investigation," Strategic Management Journal, Wiley Blackwell, vol. 29(8), pages 859-872, August.
    25. Glenn Hoetker, 2007. "The use of logit and probit models in strategic management research: Critical issues," Strategic Management Journal, Wiley Blackwell, vol. 28(4), pages 331-343, April.
    26. Martin Conyon & Annita Florou, 2002. "Top executive dismissal, ownership and corporate performance," Accounting and Business Research, Taylor & Francis Journals, vol. 32(4), pages 209-225.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lu, Yun & Ntim, Collins G. & Zhang, Qingjing & Li, Pingli, 2022. "Board of directors’ attributes and corporate outcomes: A systematic literature review and future research agenda," International Review of Financial Analysis, Elsevier, vol. 84(C).
    2. Anup Banerjee & Mattias Nordqvist & Karin Hellerstedt, 2020. "The role of the board chair—A literature review and suggestions for future research," Corporate Governance: An International Review, Wiley Blackwell, vol. 28(6), pages 372-405, November.
    3. Alexandre Bohas & Pierre-Xavier Meschi, 2023. "In vino vanitas: Social dynamics and performance of Chinese château acquisitions in the Bordeaux vineyards," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(2), pages 306-331, March.
    4. U. David Park & Warren Boeker & David Gomulya, 2020. "Political ideology of the board and CEO dismissal following financial misconduct," Strategic Management Journal, Wiley Blackwell, vol. 41(1), pages 108-123, January.
    5. Fang Shuai, 2019. "Homophily Exclusion or Homophily Preference? The Influence of the Executive Identity of Nonexecutive Directors on the Focal Firm Executive Pay and Ordinary Employee Pay," Journal of Systems Science and Information, De Gruyter, vol. 7(6), pages 550-567, December.
    6. Richard J. Gentry & Joseph S. Harrison & Timothy J. Quigley & Steven Boivie, 2021. "A database of CEO turnover and dismissal in S&P 1500 firms, 2000–2018," Strategic Management Journal, Wiley Blackwell, vol. 42(5), pages 968-991, May.
    7. Luciano Rossoni & Cezar Eduardo Aranha & Wesley Mendes-Da-Silva, 2018. "Does the capital of social capital matter? Relational resources of the board and the performance of Brazilian companies," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 22(1), pages 153-185, March.
    8. Schmid, Stefan & Mitterreiter, Simon, 2021. "Understanding top managers’ careers: How does career variety impact tenure on the board?," European Management Journal, Elsevier, vol. 39(5), pages 617-632.
    9. Danni Wang & Qi Zhu & Bruce J. Avolio & Wei Shen & David Waldman, 2023. "Do employees' views matter in corporate governance? The relationship between employee approval and CEO dismissal," Strategic Management Journal, Wiley Blackwell, vol. 44(5), pages 1328-1354, May.
    10. Hongjin Zhu & Yue Pan & Jiaping Qiu & Jinli Xiao, 2022. "Hometown Ties and Favoritism in Chinese Corporations: Evidence from CEO Dismissals and Corporate Social Responsibility," Journal of Business Ethics, Springer, vol. 176(2), pages 283-310, March.
    11. Michael C. Withers & Michael D. Howard & Laszlo Tihanyi, 2020. "You’ve Got a Friend: Examining Board Interlock Formation After Financial Restatements," Organization Science, INFORMS, vol. 31(3), pages 742-769, May.
    12. Li, Weiwen & Lu, Yuan & Makino, Shige & Lau, Chung-Ming, 2017. "National power distance, status incongruence, and CEO dismissal," Journal of World Business, Elsevier, vol. 52(6), pages 809-818.
    13. Deore, Aishwarrya & Mahlendorf, Matthias D. & Wu, Fan, 2023. "CEOs' structural power, prestige power, and target ratcheting," Accounting, Organizations and Society, Elsevier, vol. 110(C).
    14. Zhang, Yameng & Sharma, Piyush & Xu, Yekun & Zhan, Wu, 2021. "Challenges in internationalization of R&D teams: Impact of foreign technocrats in top management teams on firm innovations," Journal of Business Research, Elsevier, vol. 128(C), pages 728-741.
    15. Yang Liu & Weiqi Dai & Mingqing Liao & Jiang Wei, 2021. "Social Status and Corporate Social Responsibility: Evidence from Chinese Privately Owned Firms," Journal of Business Ethics, Springer, vol. 169(4), pages 651-672, April.
    16. Sun Hyun Park & Sung Hun (Brian) Chung & Nandini Rajagopalan, 2021. "Be careful what you wish for: CEO and analyst firm performance attributions and CEO dismissal," Strategic Management Journal, Wiley Blackwell, vol. 42(10), pages 1880-1908, October.
    17. Stefan Schmid & Simon Mitterreiter, 2020. "International Top Managers on Corporate Boards: Dissimilarity and Tenure," Management International Review, Springer, vol. 60(5), pages 787-825, October.
    18. Joseph S. Harrison & Matthew A. Josefy & Matias Kalm & Ryan Krause, 2023. "Using supervised machine learning to scale human‐coded data: A method and dataset in the board leadership context," Strategic Management Journal, Wiley Blackwell, vol. 44(7), pages 1780-1802, July.
    19. Jana Oehmichen & Daniel Braun & Michael Wolff & Toru Yoshikawa, 2017. "When Elites Forget Their Duties: The Double‐Edged Sword of Prestigious Directors on Boards," Journal of Management Studies, Wiley Blackwell, vol. 54(7), pages 1050-1078, November.
    20. Wang, Yujie & Tsang, Albert & Xiang, Yi & Yao, Daifei (Troy), 2023. "Corporate social responsibility misconduct and formation of board interlocks," Journal of Financial Stability, Elsevier, vol. 67(C).
    21. Yang, Guang & Huang, Ruixian & Shi, Yukun & Jia, Zhehao, 2021. "Does a CEO's private reputation impede corporate governance?," Economic Modelling, Elsevier, vol. 104(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Xia Chen & Qiang Cheng & Zhonglan Dai, 2013. "Family Ownership and CEO Turnovers," Contemporary Accounting Research, John Wiley & Sons, vol. 30(3), pages 1166-1190, September.
    2. Bushman, Robert & Dai, Zhonglan & Wang, Xue, 2010. "Risk and CEO turnover," Journal of Financial Economics, Elsevier, vol. 96(3), pages 381-398, June.
    3. Stefano D'Addona & Axel Kind, 2011. "Forced Manager Turnovers In English Soccer Leagues: A Long-Term Perspective," Working Papers 1011, CREI Università degli Studi Roma Tre, revised 2011.
    4. Powers, Eric A., 2005. "Interpreting logit regressions with interaction terms: an application to the management turnover literature," Journal of Corporate Finance, Elsevier, vol. 11(3), pages 504-522, June.
    5. John Harry Evans & Nandu J. Nagarajan & Jason D. Schloetzer, 2010. "CEO Turnover and Retention Light: Retaining Former CEOs on the Board," Journal of Accounting Research, Wiley Blackwell, vol. 48(5), pages 1015-1047, December.
    6. Barbara Voußem & Utz Schäffer & Denis Schweizer, 2015. "Top management turnover under the influence of activist investors," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(3), pages 709-739, August.
    7. Kang, Jun-Koo & Luo, Juan & Na, Hyun Seung, 2018. "Are institutional investors with multiple blockholdings effective monitors?," Journal of Financial Economics, Elsevier, vol. 128(3), pages 576-602.
    8. Jenter, Dirk & Cziraki, Peter, 2021. "The Market for CEOs," CEPR Discussion Papers 16281, C.E.P.R. Discussion Papers.
    9. Stefano d’Addona & Axel Kind, 2014. "Forced Manager Turnovers in English Soccer Leagues," Journal of Sports Economics, , vol. 15(2), pages 150-179, April.
    10. Wang, Jiwei, 2010. "A comparison of shareholder identity and governance mechanisms in the monitoring of CEOs of listed companies in China," China Economic Review, Elsevier, vol. 21(1), pages 24-37, March.
    11. González, Maximiliano & Guzmán, Alexander & Pablo, Eduardo & Trujillo, María-Andrea, 2019. "Is board turnover driven by performance in family firms?," Research in International Business and Finance, Elsevier, vol. 48(C), pages 169-186.
    12. Huson, Mark R. & Malatesta, Paul H. & Parrino, Robert, 2004. "Managerial succession and firm performance," Journal of Financial Economics, Elsevier, vol. 74(2), pages 237-275, November.
    13. Chakraborty, Atreya & Sheikh, Shahbaz & Subramanian, Narayanan, 2009. "The relationship between incentive compensation and performance related CEO turnover," Journal of Economics and Business, Elsevier, vol. 61(4), pages 295-311, July.
    14. Farrell, Kathleen A. & Whidbee, David A., 2003. "Impact of firm performance expectations on CEO turnover and replacement decisions," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 165-196, December.
    15. Stefan Schmid & Simon Mitterreiter, 2020. "International Top Managers on Corporate Boards: Dissimilarity and Tenure," Management International Review, Springer, vol. 60(5), pages 787-825, October.
    16. (Jianqiu) Bai, John & Mkrtchyan, Anahit, 2023. "What do outside CEOs really do? Evidence from plant-level data," Journal of Financial Economics, Elsevier, vol. 147(1), pages 27-48.
    17. Dah, Mustafa A. & Frye, Melissa B., 2017. "Is board compensation excessive?," Journal of Corporate Finance, Elsevier, vol. 45(C), pages 566-585.
    18. Dirk Jenter & Katharina Lewellen, 2021. "Performance-Induced CEO Turnover [The “Wall Street Walk” and shareholder activism: Exit as a form of voice]," The Review of Financial Studies, Society for Financial Studies, vol. 34(2), pages 569-617.
    19. McNeil, Chris & Niehaus, Greg & Powers, Eric, 2004. "Management turnover in subsidiaries of conglomerates versus stand-alone firms," Journal of Financial Economics, Elsevier, vol. 72(1), pages 63-96, April.
    20. Alberto Chong & Florencio López-de-Silanes, 2007. "Investor Protection and Corporate Governance : Firm-Level Evidence Across Latin America," World Bank Publications - Books, The World Bank Group, number 6769.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:stratm:v:37:y:2016:i:6:p:1107-1117. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1111/0143-2095 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.