Turnover of Senior Managers in Russian Privatised Firms
This paper studies determinants of CEO turnover in Russian privatised enterprises using data from a recent survey of 437 firms. Its main finding is an inverse relationship between past performance of firms (measured by labour productivity) and the probability of their CEO replacement. The paper also shows that insider ownership inhibits CEO turnover, while both state and private outside ownership are associated with higher turnover rates. Moreover, the greater the share of regional governments in company's equity, the stronger the performance–turnover relationship. The impact of board composition on CEO turnover is less pronounced. However, there is evidence that smaller boards strengthen the performance–turnover relationship. There is also evidence that CEO turnover is positively related to control changes as well as financial difficulties of companies. Comparative Economic Studies (2003) 45, 148–172. doi:10.1057/palgrave.ces.8100008
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 45 (2003)
Issue (Month): 2 (June)
|Contact details of provider:|| Web page: http://www.palgrave-journals.com/|
|Order Information:|| Postal: Palgrave Macmillan Journals, Subscription Department, Houndmills, Basingstoke, Hampshire RG21 6XS, UK|
Web: http://www.palgrave-journals.com/pal/subscribe/index.html Email:
When requesting a correction, please mention this item's handle: RePEc:pal:compes:v:45:y:2003:i:2:p:148-172. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Daniel Foley)
If references are entirely missing, you can add them using this form.