This dissertation consists of three essays on CEO replacement in turnaround situations. The first essay aims to understand the antecedents of CEO dismissal in turnaround situations. I develop a model of CEO dismissal as a social framing contest, in which key plays try to convince and mobilize...

Department: Business.

We propose that owing to limited investor attention and skepticism of complexity, firms with greater innovative originality (IO) will be undervalued, especially for firms with higher valuation uncertainty, lower attention, and greater sensitivity of future profitability to IO. We find that IO...