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Turnover among Top CEOs: Hesitation Waltz or Lucrative Round Dance?

Author

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  • Luc Marco

    (Centre d'Economie de l'Université de Paris Nord (CEPN))

Abstract

Over the last fifteen years, there has been an acceleration in the turnover of top CEOs in the 250 largest companies listed on EURONEXT, and even among the 2500 biggest global firms. But is this a hesitation waltz provoked by the fear of poor performance over the medium term, or is it more of a lucrative round dance enabling CEOs to make more money by moving from one firm to another? The synthesis we propose here1 takes stock of a phenomenon of considerable importance to modern finance capitalism. We will start by defining what we mean by "hesitation waltz", and then study the symmetrical concept of "profitable round dance". Here, finance capitalism is compared to a frantic dance whose tempo is accelerating.

Suggested Citation

  • Luc Marco, 2014. "Turnover among Top CEOs: Hesitation Waltz or Lucrative Round Dance?," CEPN Policy Brief, Centre d'Economie de l'Université de Paris Nord, vol. 5, pages 1-4.
    • Handle: RePEc:upn:policy:2014-05:en
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    Keywords

    Turnover CEOs; Firms;

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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