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Duration Analysis of CEO Turnovers Using Proportional Hazard Model
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Kim, Yungsan | - |
dc.contributor.author | Ryu, Keunkwan | - |
dc.date.accessioned | 2009-01-22T04:21:49Z | - |
dc.date.available | 2009-01-22T04:21:49Z | - |
dc.date.issued | 1998-07 | - |
dc.identifier.citation | Seoul Journal of Economics, Vol.11 No.3, pp. 243-260 | - |
dc.identifier.issn | 1225-0279 | - |
dc.identifier.uri | https://hdl.handle.net/10371/1134 | - |
dc.description.abstract | To analyze CEO turnovers in large U.S. corporations over the period 1981 to 1990, this paper adopts a minimum chi-square estimation of proportional hazard model. A simple specification test of the proportional hazard assumption is also used. Empirical results indicate that elderly CEOs are more likely to be turned over (retirement effect) and worse-than-average CEOs face a lot higher turnover risk (disciplinary effect). Interestingly, performance is found to have non-proportional effects on CEO turnovers across tenure periods. At an earlier tenure as CEO, only good performance matters, increasing the chance of survival. On the other hand. at a later tenure. only bad performance makes a difference, enhancing the possibility of turnovers. | - |
dc.language.iso | en | - |
dc.publisher | Institute of Economic Research, Seoul National University | - |
dc.subject | chi-square estimation | - |
dc.subject | hazard assumption | - |
dc.subject | Chief Executive Officer | - |
dc.title | Duration Analysis of CEO Turnovers Using Proportional Hazard Model | - |
dc.type | SNU Journal | - |
dc.contributor.AlternativeAuthor | 김영산 | - |
dc.contributor.AlternativeAuthor | 류근관 | - |
dc.citation.journaltitle | Seoul Journal of Economics | - |
dc.citation.endpage | 260 | - |
dc.citation.number | 3 | - |
dc.citation.pages | 243-260 | - |
dc.citation.startpage | 243 | - |
dc.citation.volume | 11 | - |
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