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CEO Tenure, Performance and Turnover in S&P 500 Companies
2010
Social Science Research Network
The centrality of the CEO is reflected in the empirical literature linking CEO turnover to poor firm performance. However, less is known about the institutional and personal correlates of CEO turnover. In this study, we find two CEO characteristics interact with turnover: tenure and ownership. We interpret our results as indicating that CEOs of S&P 500 firms divide into two groups with different tenure patterns -"owners" (who have large personal shareholdings) and "managers" (who have smaller
doi:10.2139/ssrn.925532
fatcat:w5aa6ny4inavldh2gaatybve54