Open AccessDoes the Type of Material Information Matter to CEO Turnover?
Author(s) -
Ya-Fang Wang
Publication year - 2016
Publication title -
asian journal of finance and accounting
Language(s) - English
Resource type - Journals
ISSN - 1946-052X
DOI - 10.5296/ajfa.v8i1.9339
Subject(s) - maturity (psychological) , business , turnover , sample (material) , order (exchange) , accounting , economics , psychology , management , chemistry , finance , developmental psychology , chromatography
Using hand-collected data to obtain the nature of material information, I examine whether and how the likelihood of CEO turnover is associated with material information disclosures. I find the likelihood of CEO turnover increases following different types of material information announcements. Further, I partitioned the sample into the various stages of company life cycle in order to determine whether life cycle stage affects the relationship between the disclosure of material information and CEO turnover. The results show that the disclosure of material information by companies only in maturity and decline is associated with high CEO turnover.