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Does the Type of Material Information Matter to CEO Turnover?

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  • Ya-Fang Wang

Abstract

Using hand-collected data to obtain the nature of material information, I examine whether and how the likelihood of CEO turnover is associated with material information disclosures. I find the likelihood of CEO turnover increases following different types of material information announcements. Further, I partitioned the sample into the various stages of company life cycle in order to determine whether life cycle stage affects the relationship between the disclosure of material information and CEO turnover. The results show that the disclosure of material information by companies only in maturity and decline is associated with high CEO turnover.

Suggested Citation

  • Ya-Fang Wang, 2016. "Does the Type of Material Information Matter to CEO Turnover?," Asian Journal of Finance & Accounting, Macrothink Institute, vol. 8(1), pages 182194-1821, December.
    • Handle: RePEc:mth:ajfa88:v:8:y:2016:i:1:p:182194
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    References listed on IDEAS

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    5. Weisbach, Michael S., 1988. "Outside directors and CEO turnover," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 431-460, January.
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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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