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...

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...

Cerium oxide nanoparticles (nano-CeO₂) have been reported to cause damage and apoptosis in human primary hepatocytes. Here, we compared the toxicity of three types of nano-CeO₂ with different nanocrystal morphologies (cube-, octahedron-, and rod-like crystals) in human hepatocellular carcinoma cells (HepG2). The cells were treated with the nano-CeO₂ at various concentrations (6.25, 12.5, 25, 50...

This paper documents the existence of a CEO Investment Cycle, in which disinvestment decreases over CEO tenure while investment increases, leading to “cyclical” firm growth in assets as well as in employment. The CEO investment cycle is present for both firings and non-performance related CEO turnovers. Its magnitude is substantial: the estimated difference in investment rate between the first ...

Density functional theory was used to study the CO oxidation catalytic activity of CeO(2)-supported Au nanoparticles (NPs). Experimental observations on CeO(2) show that the surface of CeO(2) is enriched with oxygen vacancies. We compare CO oxidation by a Au(13) NP supported on stoichiometric CeO(2) (Au(13)@CeO(2)-STO) and partially reduced CeO(2) with three vacancies (Au(13)@CeO(2)-3VAC). The ...

Do CEO values matter? Most researchers say yes, but few have been able to empirically prove that. Using the Q-sort method to measure CEO values and HLM to test the effects of CEO values played on middle manager responses in 42 Chinese companies, we found that CEO values affect the manager’s attitudinal responses, but not their job performance as rated by their superiors. Our results also show t...

Using 1998-2005 EXECUCOMP data on Real Estate Investment Trust (REIT) CEOs, this study addresses some of the issues that arise when modeling CEO incentive-based compensation. The purpose is to investigate how profit efficiencies are impacted by CEO compensation and their composition of pay packages. Since a disproportionate amount of a REITs expenses are executive compensation related, this iss...

a r t i c l e i n f o Keywords: Executive turnover Top management teams Strategic change Discontinued operations Power circulation theory While previous research suggests that CEO turnover correlates with strategic changes in firm's operations such as discontinuation of operations, we demonstrate that such findings apply only to specific types of CEO turnover, and only if non-CEO members of the...

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 on his ability. The novel aspect of our paper is that we consider both the hiring and the firing of the CEO by the board. The type of the board is defined by its ability to select a good CEO so t...