The DOI matches its Crossref record.
Top Executives, Turnover, and Firm Performance in Germany
Abstract
This paper examines executive turnover -- both for management and supervisory boards - - and its relation to firm performance in the largest companies in Germany in the 1980s. The management board turns over slowly -- at a rate of 10% per year -- implying that top executives in Germany have longer tenures than their counterparts in the U.S. and Japan. Turnover of the management board increases significantly with stock performance and particularly poor (i.e. negative) earnings, but is unrelated to sales growth and earnings growth. Turnover of the supervisory board is not consistently related to any measure of performance.
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Citations
Cited by
A Survey of Corporate Governance
Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb04820.x · Cited by 16,243
A welfare comparison of intermediaries and financial markets in Germany and the US
Allen, F., & Gale, D. (1995) · European Economic Review · doi:10.1016/0014-2921(94)00095-h · Cited by 351
Metadata
- Authors
- Kaplan, S. N.
- Venue
- Journal of Law, Economics, and Organization
- Publisher
- Oxford University Press (OUP)
- Published
- 1994-04-01
- Volume
- 10
- Issue
- 1
- Pages
- 142-159
- ISSN
- 1465-7341 (ISSN-L)
- 8756-6222
- OpenAlex
- W2996716151
- Cited by
- 326
- References
- 0
- FWCI
- 48.13
- Type
- journal article
- Language
- en
- Open access
- closed
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Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
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How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
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- CoChat. (2026). Citation check: Top Executives, Turnover, and Firm Performance in Germany. https://app.cochat.ai/papers/10.1093/jleo/10.1.142
- The paper
- Kaplan, S. N. (1994). Top Executives, Turnover, and Firm Performance in Germany. Journal of Law, Economics, and Organization. https://doi.org/10.1093/jleo/10.1.142
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
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.
