Publications
Detailed Information
가족기업의 신임 최고경영자 공시에 대한 주식시장의 반응 : Stock Market Reactions to CEO Succession in Family-Controlled Firms
DC Field | Value | Language |
---|---|---|
dc.contributor.author | 류진아 | - |
dc.contributor.author | 박선현 | - |
dc.contributor.author | 이동기 | - |
dc.date.accessioned | 2023-04-19T04:00:06Z | - |
dc.date.available | 2023-04-19T04:00:06Z | - |
dc.date.created | 2022-09-16 | - |
dc.date.issued | 2021-08 | - |
dc.identifier.citation | 경영학연구, Vol.50 No.4, pp.981-1009 | - |
dc.identifier.issn | 1226-1874 | - |
dc.identifier.uri | https://hdl.handle.net/10371/190494 | - |
dc.description.abstract | We study market response toward family vs. professional CEO succession in a family-controlled firm. Drawing on theories distinguishing family CEOs from professional CEOs, we propose two competing hypotheses on whether investors react to family CEO succession more negatively (or positively) than to professional CEO succession in a family-controlled firm. We find that stock market reactions to family CEO succession are more negative compared to professional CEO succession, supporting the theoretical perspectives that stockholders consider family CEO succession as an extension of the owner familys private benefit seeking. This negative market response to family CEO succession, however, decreases when the firm is under the market regulatory authorities monitoring. Our empirical analysis examining the announcement of CEO succession events in Korean public family-controlled firms between 2005 and 2016 provides strong support for our theoretical perspectives. | - |
dc.language | 한국어 | - |
dc.publisher | 한국경영학회 | - |
dc.title | 가족기업의 신임 최고경영자 공시에 대한 주식시장의 반응 | - |
dc.title.alternative | Stock Market Reactions to CEO Succession in Family-Controlled Firms | - |
dc.type | Article | - |
dc.identifier.doi | 10.17287/kmr.2021.50.4.981 | - |
dc.citation.journaltitle | 경영학연구 | - |
dc.citation.endpage | 1009 | - |
dc.citation.number | 4 | - |
dc.citation.startpage | 981 | - |
dc.citation.volume | 50 | - |
dc.identifier.kciid | ART002748072 | - |
dc.description.isOpenAccess | N | - |
dc.contributor.affiliatedAuthor | 박선현 | - |
dc.contributor.affiliatedAuthor | 이동기 | - |
dc.description.journalClass | 2 | - |
dc.subject.keywordAuthor | CEO succession | - |
dc.subject.keywordAuthor | investor reaction | - |
dc.subject.keywordAuthor | family firm | - |
dc.subject.keywordAuthor | corporate governance | - |
- Appears in Collections:
- Files in This Item:
- There are no files associated with this item.
Item View & Download Count
Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.