CEO turnover and corporate performance relationship in pre- and post- IFRS period: evidence from Turkey
- Resource Type
- Authors
- M. Banu Durukan; Serdar Ozkan; A. Fatih Dalkilic
- Source
- Journal of Business Economics and Management, Vol 13, Iss 3 (2012)
Journal of Business Economics and Management; Vol 13 No 3 (2012); 421-442
- Subject
- Economics and Econometrics
ComputingMilieux_THECOMPUTINGPROFESSION
Turkey
HF5001-6182
business.industry
Corporate governance
corporate governance
effectiveness
Accounting
ComputingMilieux_LEGALASPECTSOFCOMPUTING
IFRS
Turnover
CEO turnover
Business, Management and Accounting (miscellaneous)
Business
Financial accounting
Pre and post
Period (music)
corporate performance
- Language
- English
- ISSN
- 2029-4433
1611-1699
This study investigates CEO turnover and corporate performance relationship as a measure of the effectiveness of a corporate governance system. The impact of different financial accounting regimes on the turnover/performance relationship is also analyzed. If systems replace poorly performing managers, they are considered as not ineffective. The results provide evidence that corporate governance systems with poor governance characteristics may not be ineffective, due to the existence of alternative governance mechanisms. The disciplinary CEO turnover is found to be more strongly associated with corporate performance compared to voluntary CEO turnover, whereas in the IFRS subsample the relationship is stronger with contemporaneous performance measures.