碩士 / 國立高雄大學 / 金融管理學系碩士班 / 105 / This study examines the impact of CEO turnover on shareholders’ wealth. We use even-study approach, market model, and three-factor model to calculate abnormal return around announcements, and examine whether various turnover factors would lead to different wealth effect on share price. This study is the first study to examine Taiwan public firms which have announced CEO turnovers during 2010-2012 in the post-subprime period. The empirical results show that CEO turnover announcements have positive impact on shareholders’ wealth, regardless of whether the turnover factors are voluntary or mandatory, consistent with common sense theory. The implications are that, during the subprime period, those CEOs who had unsatisfactory job performance or risk management skills would likely get laid off.
| Identifer | oai:union.ndltd.org:TW/105NUK00213002 |
| Date | January 2017 |
| Creators | LEE,YI-RUN, 李奕潤 |
| Contributors | HUANG,I-HSIANG, Wang,David K, 黃一祥, 王功亮 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 45 |
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