The DOI matches its Crossref record; 33 of the 33 references it cites were found in a registry or an index.
Performance Changes Following Top Management Dismissals
Abstract
We document that forced resignations of top managers are preceded by large and significant declines in operating performance and followed by large improvements in performance. However, forced resignations are rare and are due more often to external factors (e.g., blockholder pressure, takeover attempts, etc.) than to normal board monitoring. Following the management change, these firms significantly downsize their operations and are subject to a high rate of corporate control activity. Normal retirements are followed by small increases in operating income and are also subject to a slightly higher than normal incidence of postturnover corporate control activity.
Overview
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Verification
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Citations
Cites
The Modern Corporation and Private Property
Kline, J. V., Berle, A. A., & Means, G. C. (1933) · Columbia Law Review · doi:10.2307/1115736 · Cited by 7,361
Management ownership and market valuation
Morck, R., Shleifer, A., & Vishny, R. W. (1988) · Journal of Financial Economics · doi:10.1016/0304-405x(88)90048-7 · Cited by 6,895
Performance Pay and Top-Management Incentives
Jensen, M. C., & Murphy, K. J. (1990) · Journal of Political Economy · doi:10.1086/261677 · Cited by 5,083
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
Accounting earnings and cash flows as measures of firm performance
Dechow, P. M. (1994) · Journal of Accounting and Economics · doi:10.1016/0165-4101(94)90016-7 · Cited by 2,582
Managerial control of voting rights
Stulz, R. (1988) · Journal of Financial Economics · doi:10.1016/0304-405x(88)90039-6 · Cited by 2,429
Does corporate performance improve after mergers?
Healy, P. M., Palepu, K. G., & Ruback, R. S. (1992) · Journal of Financial Economics · doi:10.1016/0304-405x(92)90002-f · Cited by 1,659
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
The effects of management buyouts on operating performance and value
Kaplan, S. (1989) · Journal of Financial Economics · doi:10.1016/0304-405x(89)90047-0 · Cited by 1,319
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
Cited by
Why Has CEO Pay Increased So Much?*
Gabaix, X., & Landier, A. (2008) · Quarterly Journal of Economics · doi:10.1162/qjec.2008.123.1.49 · Cited by 1,764
Control and Collaboration: Paradoxes of Governance
Sundaramurthy, C., & Lewis, M. (2003) · The Academy of Management Review · doi:10.2307/30040729 · Cited by 1,112
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
Inside the Family Firm: The Role of Families in Succession Decisions and Performance
Bennedsen, M., Nielsen, K., Pérez-González, F., & Wolfenzon, D. (2006) · National Bureau of Economic Research · doi:10.3386/w12356 · Cited by 783
Shen, W., & Cannella, A. A. (2002) · Academy of Management Journal · doi:10.2307/3069306 · Cited by 639
Metadata
- Authors
- DENIS, D. J., & DENIS, D. K.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1995-09
- Volume
- 50
- Issue
- 4
- Pages
- 1029-1057
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W2041889606
- Cited by
- 1,010
- References
- 33
- FWCI
- 45.95
- Type
- journal article
- Language
- en
- Open access
- closed
About these checks
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.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
How to cite
Cite CoChat for the checks on this page, and the paper for its own findings.
- This page
- CoChat. (2026). Citation check: Performance Changes Following Top Management Dismissals. https://app.cochat.ai/papers/10.1111/j.1540-6261.1995.tb04049.x
- The paper
- DENIS, D. J., & DENIS, D. K. (1995). Performance Changes Following Top Management Dismissals. The Journal of Finance. https://doi.org/10.1111/j.1540-6261.1995.tb04049.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.
