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Cited by 655

The DOI matches its Crossref record; 15 of the 15 references it cites were found in a registry or an index.

Corporate Performance, Corporate Takeovers, and Management Turnover

MARTIN, KENNETH J., MCCONNELL, JOHN J.·1991·The Journal of Finance
DOI 10.1111/j.1540-6261.1991.tb02679.x
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Abstract

This paper examines the hypothesis that an important role of corporate takeovers is to discipline the top managers of poorly performing target firms. We document that the turnover rate for the top manager of target firms in tender offer‐takeovers significantly increases following completion of the takeover and that prior to the takeover these firms were significantly under‐performing other firms in their industry as well as other target firms which had no post‐takeover change in the top executive. We interpret the results to indicate that the takeover market plays an important role in controlling the nonvalue maximizing behavior of top corporate managers.

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Crossref · 10.1111/j.1540-6261.1991.tb02679.x

Cites

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Metadata

Authors
MARTIN, K. J., & MCCONNELL, J. J.
Venue
The Journal of Finance
Publisher
Wiley
Published
1991-06
Volume
46
Issue
2
Pages
671-687
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.1991.tb02679.x
OpenAlex
W2158074482
Cited by
655
References
15
FWCI
49.21
Type
journal article
Language
en
Open access
closed

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CoChat. (2026). Citation check: Corporate Performance, Corporate Takeovers, and Management Turnover. https://app.cochat.ai/papers/10.1111/j.1540-6261.1991.tb02679.x
The paper
MARTIN, K. J., & MCCONNELL, J. J. (1991). Corporate Performance, Corporate Takeovers, and Management Turnover. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1991.tb02679.x

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.