Please use this identifier to cite or link to this item: http://hdl.handle.net/1959.14/145988
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- Title
- Corporate governance and chief executive officer dismissal following poor performance : Australian evidence
- Related
- Accounting and finance, Vol. 49, No. 1, (2009), p.161-182
- DOI
- 10.1111/j.1467-629X.2008.00278.x
- Publisher
- Blackwell Publishing
- Date
- 2009
- FoR/RFCD Code(s)
-
150200 Banking, Finance and Investment
150100 Accounting, Auditing and Accountability
- Author/Creator
- Lau, James
- Author/Creator
- Sinnadurai, Philip
- Author/Creator
- Wright, Sue
- Description
- This paper investigates the association between corporate performance and the probability of chief executive officer (CEO) dismissal for large corporations in Australia. Consistent with prior US and UK studies, corporate performance is negatively related to the probability of CEO dismissal, using both accounting and market-based performance measures. This paper also investigates whether key corporate governance characteristics affect the likelihood of CEO dismissal, by examining their effect on the strength of the negative association between corporate performance and CEO dismissal. The only significant variable is size of the board. Although its effect is opposite to that hypothesized, this paper provides a plausible explanation. Overall, the results are consistent with shareholder wealth considerations dominating board behaviour in Australia.
- Description
- 22 page(s)
- Subject Keyword
- 150200 Banking, Finance and Investment
- Subject Keyword
- 150100 Accounting, Auditing and Accountability
- Subject Keyword
- chief executive officer dismissal
- Subject Keyword
- board of directors
- Subject Keyword
- corporate governance
- Resource Type
- journal article
- Organisation
- Macquarie University. Dept. of Accounting and Finance
- Identifier
- http://hdl.handle.net/1959.14/145988
- Identifier
- ISSN:0810-5391
- Identifier
- mq-rm-2008002037
- Language
- eng
- Reviewed
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