Mesoporous photocatalysts of CeO2/SBA-15 are prepared by two methods of direct synthesis as solvent-usage and solvent-free methods. In solvent-usage method, CeO2/SBA-15 is synthesized in acidic media. While, in solvent-free method, CeO2/SBA-15, has been prepared through the novel path of directly grind cerium salt into the as-prepared samples of SBA-15 occluded ...

This study presents the first targeted examination of changes in financial reporting surrounding the appointment of both new CEOs and Principal Financial Officers (PFOs). We identify companies that appoint new CEOs and PFOs in the period 1995 to 2002 and find that the change in discretionary accruals is negative and significant in the year of hire (from t-1 to t) for firms appointing a new CEO ...

Purpose This paper investigates how past performance changes, prior CEO replacements and changes in the chairperson impact turnover public large private businesses. Design/methodology/approach We analyze 1,679 documented a sample of 1,493 Spanish firms during 1998–2004 by computing dynamic binary choice models that control for endogeneity turnovers. Findings The results reveal different horizon...

This theoretical article introduces the construct of CEO celebrity in order to explain how the tendency of journalists to attribute a firm’s actions and outcomes to the volition of its CEO affects such firm. In the model developed here, journalists celebrate a CEO whose firm takes strategic actions that are distinctive and consistent by attributing such actions and performance to the firm’s CEO...

I address the problem of corporate governance. I o¤er a theory of CEO replacement, using Nash bargaining game. CEO replacement involves the board monitoring of the CEOs and the CEO succession policy, which is in regards to the inside promotion or the outside recruiting of the new CEO when the incumbent CEO is …red. I argue that CEO replacement decisions made by the incumbent CEO and the incumbe...

This paper analyzes corporate governance decisions at firms making initial public offerings (IPOs) of common stock between 1996 and 1999. Our objective is to examine relationships between firms’ corporate governance practices and the quality and availability of accountingand market-based measures of firm performance. We collect a sample of 464 companies from the manufacturing, internet, and tec...

Risk generated by uncertainty about future management policies appears to affect firms’ cost of borrowing. In a sample of S&P 1500 firms between 1987 and 2012, CDS spreads, loan spreads and bond yield spreads all decline over the first three years of CEO tenure, holding other macroeconomic, firm, and security level factors constant. This decline occurs regardless of the reason for the prior CEO...

Most of the studies regarding the determination of executive compensation are based on developed countries and mainly focused on CEO compensation. Determination of board compensation is relatively ignored in the literature. This paper examines the effect of corporate governance, firm performance and corporate diversification on board as well as CEO compensation and its components in the context...

We analyze the interactions between internal and external control mechanisms in a framework in which the board selects the CEO and then decides whether to retain or dismiss him after observing a signal regarding his ability. The novel aspect of our paper is that we consider both the hiring and the ...ring of the CEO by the board. The type of board is de...ned by its ability to select a good CEO...