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University of Lethbridge
Power at the top: an examination of CEO tenure and excess churn
Abstract
This research primarily examines the relationship between CEO power and CEO tenure in Standard & Poor’s 1500 firms from 1997 to 2018. The panel regression and 2 step-system GMM models suggest that there is a strong positive relationship between CEO power and tenure. Additionally, power has a positive significant moderating effect on the performance–tenure relationship. The results are robust across crisis subsamples. This paper also investigates excess CEO churning. I find that about 1.6% of companies has excess CEO turnover. The logit models indicate that companies with powerful CEOs are less likely to experience excess turnover.
Author and committee
dc:creator, dc:contributor.*- Authors
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- Ziyatkhanli, Murad
- University of Lethbridge. Dhillon School of Business
Subjects
dc:subject × 6Identifiers
dc:identifier.*- Identifier
- hdl:10133/6455
- OAI identifier oai:identifier
- oai:opus.uleth.ca:10133/6455