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CEO TENURE AS A DETERMINANT OF CEO PAY.
Academy of Management Journal, 1991Our hypotheses were that the influence of chief executive officers (CEOs) over boards of directors and the likelihood that the CEOs' compensation packages will reflect their preferences increase wi...
C. W. L. Hill, P. Phan
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CEO tenure and mergers and acquisitions
Finance Research Letters, 2020Abstract In this study, we examine the relationship between CEO tenure and corporate mergers and acquisitions (M&A) performance. Using a large sample of 16,516 M&As in the United States between 1999 and 2015, we find that long-tenured CEOs tend to create more shareholder value than short-tenured CEOs in M&A deals.
Bing Zhou, Shantanu Dutta, Pengcheng Zhu
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CEO Tenure, Board Composition and Regulation
SSRN Electronic Journal, 1998We examine the effect of deregulation in the 1970s and 1980s on the size of the board of directors, its composition, and on CEO tenure. Using panel data techniques, we consider those effects in the aggregate and for individual industries while controlling for firm size, CEO age, time and firm-specific effects.
Rick Geddes, Hrishikesh D. Vinod
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CEO Tenure and the Cost of Equity Capital
Journal of Applied Business and Economics, 2023In this study, we investigate the relationship between CEO tenure and the implied cost of equity capital. Using 29,519 firm-year observations spanning the period from 1993 to 2021, we find a negative relationship between CEO tenure and the cost of equity.
Sangshin Pae +2 more
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The effect of CEO tenure on CEO compensation
Managerial Finance, 2010PurposeThe paper aims to study the effect of tenure on the structure of CEO compensation. The relation between CEO compensation and CEO tenure provides a good testing bed for many effects: the managerial power effect, the portfolio consideration effect, the learning effect, and the career concern effect.Design/methodology/approachTobit regressions were
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Review of Quantitative Finance and Accounting, 2019
We examine the relationship between CEO tenure and audit fees. After controlling for client and auditor attributes in the analyses, we find that audit fees are higher in the initial 3 years of CEOs’ service, suggesting that CEOs in their early career are more likely to show high risk-taking behavior and manage earnings that increases the probability of
Santanu Mitra +3 more
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We examine the relationship between CEO tenure and audit fees. After controlling for client and auditor attributes in the analyses, we find that audit fees are higher in the initial 3 years of CEOs’ service, suggesting that CEOs in their early career are more likely to show high risk-taking behavior and manage earnings that increases the probability of
Santanu Mitra +3 more
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CEO tenure and performance in the nonprofit sector
2023Nonprofit firm performance is critical to the sector that provides products and services to some of the most underserved communities. Understanding the link between the board of directors and CEO tenure and how this interplay is associated with performance is important to both practitioners and researchers alike, as this sector remains one of the least
Racquel Assaye, Curtis Hall
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Systematic impact of the state on CEO tenure
Health Care Management Review, 1984Using information from the literature on both for-profit industrial corporations and nonprofit community hospitals, a path model is constructed to show the effect of the state on CEO tenure at state-owned university hospitals. Results indicate that CEOs' lack of managerial influence and control over competition adversely affects their tenure at these ...
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CEO Tenure and Stock Returns Performance
SSRN Electronic Journal, 2018This study shows that CEO tenure has positive and robust predictive power on cross-sectional stock returns. We show that a hedge portfolio constructed based on CEO tenure yields an annualised alpha of 1.32% and attribute this to seasoned CEOs having greater firm-specific knowledge and experience.
Minhao Leong, Xianzhen Chen, Xinyuan Yao
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Director tenure and the compensation of bank CEOs
Managerial Finance, 2010Purpose – The purpose of this paper is to examine how board tenure affects the compensation of CEOs using a sample of 93 publicly traded US banks.Design/methodology/approach – The paper proposes a CEO allegiance hypothesis whereby long‐term relationships with executives and other directors will shift allegiance from shareholders to executives vs a more
John Byrd +2 more
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