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Cited by 367

The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.

CEO Dismissal: The role of investment analysts

Open access
Wiersema, Margarethe F., Zhang, Yan·2011·Strategic Management Journal
DOI 10.1002/smj.932
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Abstract

While poor firm performance has been shown to be a predictor of CEO dismissal, little is known about the role of external constituents on the board's decision to dismiss the firm's CEO. In this study, we propose that investment analysts, as legitimate third‐party evaluators of the firm and its leadership, provide certification as to the CEO's ability, or lack thereof, and thus help reduce the ambiguity associated with the board's evaluation of the CEO's efficacy. In addition, the board tends to respond to investment analysts because their stock recommendations influence investors, whom the board wants to appease. Using panel data on the S&P 500 companies for the 2000–2005 period, we find that negative analyst recommendations result in a higher probability of CEO dismissal. Copyright © 2011 John Wiley & Sons, Ltd.

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Metadata

Authors
Wiersema, M. F., & Zhang, Y.
Venue
Strategic Management Journal
Publisher
Wiley
Published
2011-04-28
Volume
32
Issue
11
Pages
1161-1182
ISSN
  • 0143-2095 (ISSN-L)
  • 1097-0266
DOI
10.1002/smj.932
OpenAlex
W1993408507
Cited by
367
References
3
FWCI
64.07
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: CEO Dismissal: The role of investment analysts. https://app.cochat.ai/papers/10.1002/smj.932
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Wiersema, M. F., & Zhang, Y. (2011). CEO Dismissal: The role of investment analysts. Strategic Management Journal. https://doi.org/10.1002/smj.932

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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.