IDEAS home Printed from https://ideas.repec.org/a/gam/jijfss/v13y2025i3p117-d1691934.html
   My bibliography  Save this article

Analyzing Climate Change Exposure and CEO Turnover: Evidence from U.S. Firms

Author

Listed:
  • Dmitriy Chulkov

    (School of Business, Indiana University Kokomo, Kokomo, IN 46902, USA)

Abstract

This work explores the link between CEO turnover patterns and firms’ climate change exposure in a data set of over two thousand U.S. publicly traded firms. The findings demonstrate that CEO turnover is negatively associated with measures of climate change exposure developed with machine learning based on the frequency of discussions linked to climate change in the firms’ earnings conference calls. The results further indicate that this significant negative relationship exists in the year after the CEO’s departure from the firm, not before their departure. CEO turnover scenarios differ in their impact on a firm’s climate change exposure and sentiment. The focus of a firm’s management and financial analysts covering the firm can shift away from the issues of climate change. The negative and significant relationship with firms’ climate change exposure is observed particularly for forced CEO departures in firings or resignations, as well as for outsider CEO replacements. No significant relationship is found for CEO departures due to retirement or for cases of internal CEO succession. The results provide insights for decision makers, investors and boards of directors trying to evaluate the role of CEO turnover in climate change exposure at firms.

Suggested Citation

  • Dmitriy Chulkov, 2025. "Analyzing Climate Change Exposure and CEO Turnover: Evidence from U.S. Firms," IJFS, MDPI, vol. 13(3), pages 1-11, July.
    • Handle: RePEc:gam:jijfss:v:13:y:2025:i:3:p:117-:d:1691934
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7072/13/3/117/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7072/13/3/117/
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijfss:v:13:y:2025:i:3:p:117-:d:1691934. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.