| Summary: | 碩士 === 元智大學 === 商學碩士班(財務金融學程) === 102 === In this paper, we examine some detailed characteristics of firms and CEO Characteristics in bankruptcy. In characteristics of firms, we examine financial health factors like previous research. Besides, we examine CEO turnover, the times of changing CEO in restructure period ,and the time taking in restructure after chapter 11 will affect outcomes. In CEO Characteristics, we examine if the CEO also be top executives in bankruptcy firm, and if CEO is an "inside CEO" that ever work in the bankruptcy firm before. We also exam if the health level of financial factors will affect the bankruptcy firms incentive to hire new CEO, even need to hire experienced CEO or turnaround specialist to save bankruptcy firms. Compare with previous research, we use larger sample to get empirical results. Finally, we get the results that CEO turnover is not good for firms to emerge from bankruptcy, but the more CEO takeover during restructuring period is good for emerging.
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