The DOI matches its Crossref record; 23 of the 23 references it cites were found in a registry or an index.
The Cadbury Committee, Corporate Performance, and Top Management Turnover
Abstract
In 1992, the Cadbury Committee issued the Code of Best Practice which recommends that boards of U.K. corporations include at least three outside directors and that the positions of chairman and CEO be held by different individuals. The underlying presumption was that these recommendations would lead to improved board oversight. We empirically analyze the relationship between CEO turnover and corporate performance. CEO turnover increased following issuance of the Code; the negative relationship between CEO turnover and performance became stronger following the Code's issuance; and the increase in sensitivity of turnover to performance was concentrated among firms that adopted the Code.
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Citations
Cites
Higher market valuation of companies with a small board of directors
Yermack, D. (1996) · Journal of Financial Economics · doi:10.1016/0304-405x(95)00844-5 · Cited by 6,603
Outside directors and CEO turnover
Weisbach, M. S. (1988) · Journal of Financial Economics · doi:10.1016/0304-405x(88)90053-0 · Cited by 4,234
Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders
Agrawal, A., & Knoeber, C. R. (1996) · The Journal of Financial and Quantitative Analysis · doi:10.2307/2331397 · Cited by 2,801
Outside directors, board independence, and shareholder wealth
Rosenstein, S., & Wyatt, J. G. (1990) · Journal of Financial Economics · doi:10.1016/0304-405x(90)90002-h · Cited by 1,929
Stock prices and top management changes
Warner, J. B., Watts, R. L., & Wruck, K. H. (1988) · Journal of Financial Economics · doi:10.1016/0304-405x(88)90054-2 · Cited by 1,568
Do outside directors monitor managers?
Byrd, J. W., & Hickman, K. A. (1992) · Journal of Financial Economics · doi:10.1016/0304-405x(92)90018-s · Cited by 1,555
Executive compensation, management turnover, and firm performance
Coughlan, A. T., & Schmidt, R. M. (1985) · Journal of Accounting and Economics · doi:10.1016/0165-4101(85)90027-8 · Cited by 1,209
Internal Monitoring Mechanisms and CEO Turnover: A Long‐Term Perspective
Huson, M. R., Parrino, R., & Starks, L. T. (2001) · The Journal of Finance · doi:10.1111/0022-1082.00405 · Cited by 1,070
Performance Changes Following Top Management Dismissals
DENIS, D. J., & DENIS, D. K. (1995) · The Journal of Finance · doi:10.1111/j.1540-6261.1995.tb04049.x · Cited by 1,010
Management turnover and financial distress
Gilson, S. C. (1989) · Journal of Financial Economics · doi:10.1016/0304-405x(89)90083-4 · Cited by 999
Cited by
Boards: Does one size fit all☆
COLES, J., DANIEL, N., & NAVEEN, L. (2008) · Journal of Financial Economics · doi:10.1016/j.jfineco.2006.08.008 · Cited by 3,075
The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey
Adams, R. B., Hermalin, B. E., & Weisbach, M. S. (2010) · Journal of Economic Literature · doi:10.1257/jel.48.1.58 · Cited by 2,358
International Corporate Governance
Denis, D. K., & McConnell, J. J. (2003) · The Journal of Financial and Quantitative Analysis · doi:10.2307/4126762 · Cited by 1,358
Self-citationErkens, D. H., Hung, M., & Matos, P. (2012) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2012.01.005 · Cited by 1,202
Corporate governance in China: A modern perspective
Jiang, F., & Kim, K. A. (2015) · Journal of Corporate Finance · doi:10.1016/j.jcorpfin.2014.10.010 · Cited by 931
Metadata
- Authors
- Dahya, J., McConnell, J. J., & Travlos, N. G.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2002-02
- Volume
- 57
- Issue
- 1
- Pages
- 461-483
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2124529400
- Cited by
- 552
- References
- 23
- FWCI
- 97.80
- Type
- journal article
- Language
- en
- Open access
- closed
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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.
