The Association between CEO Turnover and Firm Performance

• Main Authors: Sheng-yao Hsu, 徐聖堯
• Other Authors: Shou-Min Tsao
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/56402730354942904577

碩士 === 國立中央大學 === 企業管理學系碩士在職專班 === 98 === In 2006, the Financial Supervisory Commission amended articles of “Regulations Governing Information to be Published in Annual Reports of Public Companies”. It reduced the quality of mandated compensation disclosure. This study investigates the impact of mandated compensation disclosure on firms'' CEO turnover-performance sensitivity. We find that CEO turnover-performance sensitivity become less than before, with the poor quality of mandated disclosure. Moreover, we also examine how the decrease of CEO turnover-performance sen-sitivity varies across three types of firms – family CEO firms, professional CEO family firms, and non-family firms. The empirical findings are consistent with the decrease of CEO turno-ver-performance sensitivity is lower for family CEO firms and non-family firms than for pro-fessional CEO family firms, with the poor quality of mandated disclosure.