The Value Relevance of Top Executive Departures:Evidence from the Netherlands

On theoretical grounds, monitoring of top executives by the (supervisory) board is expectedto be value relevant. The empirical evidence is ambiguous and we analyze three noncompetingexplanations for this ambiguity: (i) The positive effect on firm value of boardmonitoring is hidden in stock price effects due to the simultaneous occurrence of the positivereal effect of monitoring and the opposing information effect...

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Year of publication:	2007-09-01
Authors:	Cools, Kees ; Praag, Mirjam van
Institutions:	Forschungsinstitut zur Zukunft der Arbeit <Bonn>
Subject:	Personalpolitik \| Absetzung \| Betriebsführung \| Firm-specific characteristics \| Unternehmensleitung

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Extent:	351232 bytes 28 p. application/pdf
Series:	IZA - Institut für die Zukunft der Arbeit - Discussion Papers IZA Discussion Paper ; No. 3054 (2007)
Type of publication:	Book / Working Paper
Language:	English
Classification:	G3 - Corporate Finance and Governance ; J32 - Nonwage Labor Costs and Benefits; Private Pensions ; J33 - Compensation Packages; Payment Methods ; M12 - Personnel Management ; M51 - Firm Employment Decisions; Promotions (hiring, firing, turnover, part-time, temporary workers, seniority issues) ; Management and business organisation. General ; Personnel administration. Human resources management. General ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005861853