CEO Turnover, Equity-Based Compensation And Firms Investment Decisions

The Impact of Investment Inefficiency and Cash Holding on CEO Turnover

The purpose of this study is to investigate the effective of investment inefficiency and cash holding on CEO turnover. This study applies logistic regression method estimator to investigate the relationship between examine the effective of investment inefficiency and cash holding on CEO turnover of 1,309 firm-year observations in Iran for the period of 2009-2019.  According to positive relati...

1 CEO Turnover and Divisional Investment ( Dissertation Proposal )

In this paper we look at the effect of CEO turnover on the divisional investment of multi-divisional firms. We predict that after CEO turnover, new CEOs will use different divisional investment policy and internal capital allocation to realize strategy reorientation, improve firm performance or make more entrenchment. Furthermore, by looking at new CEO’s divisional preference at preand post-tur...

Stock Option Vesting Conditions, CEO Turnover, and Myopic Investment

This paper analyzes the optimal design of stock option vesting conditions when the CEO faces a risk of being replaced at an interim date. First, I show that long vesting terms do not necessarily discourage but in fact can encourage short-termism. Second, the model demonstrates that the optimal vesting schedule involves balancing incentives for managerial effort with incentives for long-term inv...

Firms’ investment decisions in fragile states

‘Civil war, private portfolios and growth in Africa’ The thesis will provide analytical insights and empirical evidence on civil war, private portfolios and growth in Africa. It will investigate the following questions. How much capital flows out during civil war? How much comes back and what is that contingent upon? In addition, there will be econometric analysis of the relationship between ca...

CEO Compensation in Cooperatives versus Publicly Listed Firms