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Board's Monitoring and Retention of Sub-standard and Powerless CEOs

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  • Meg Sato

    (Crawford School of Economics and Government, The Australian National University)

Abstract

Do corporate boards look after shareholder interests? This paper shows that CEO replacement may exhibit excessive inertia, in favor of the incumbent board of directors. I show that even when there is no relationship between the board of directors and CEO, or no threat of the CEO.s power over the board of directors, there is a case in which the board wants to keep sub-standard CEOs.

Suggested Citation

  • Meg Sato, 2010. "Board's Monitoring and Retention of Sub-standard and Powerless CEOs," CIRJE F-Series CIRJE-F-711, CIRJE, Faculty of Economics, University of Tokyo.
  • Handle: RePEc:tky:fseres:2010cf711
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