Our analysis suggests that boards focus on deviation from expected performance, rather than performance alone, in making the CEO turnover decision, especially when there is agreement (less dispersion) among analysts about the firm's earnings forecast or there are a large number of analysts...

In recent years, corporate sponsorship has become an increasingly important element of the marketing communications mix. This paper uses data from the 1996 Atlanta Summer Olympic Games to measure the value of Olympic sponsorship. Using stock return data, we find that the shareholders of...

This paper investigates the rewards (or penalties) offered to outside directors that signal their decision making expertise to shareholders and labor markets by removing a poorly performing CEO. Using a sample of directors drawn from 40 firms experiencing forced CEO departures between 1982 and...

Our analysis suggests that boards focus on deviation from expected performance, rather than performance alone, in making the CEO turnover decision, especially when there is agreement (less dispersion) among analysts about the firm's earnings forecast or there are a large number of analysts...

We analyze the effect of CEO tenure on the relation between firm performance and forced turnover. We find that the performance-forced turnover relation is conditional on CEO tenure. Our results suggest a constant negative relation between firm performance and forced turnover throughout an inside...

We examine the impact of the 2003 dividend tax cut, which removes the differential taxation between dividends and capital gains for individual investors, on the ex-dividend day price and trading volume. We find the ex-dividend day price and volume are affected by taxes, risk, and transaction...

This article examines the determinants of legislator support for a Kansas constitu tional amendment to authorize the use of voter initiatives. Although mixed, the results suggest that Kansas House members were more likely to vote for the amendment the greater their difficulty in representing...

Government fluoridation of public water systems to promote dental health has long been advocated by many health associations, based on the findings of mainstream scientific studies. Despite this, fluoridation remains a controversial issue. Some in the public are antithetical to the science...