Clusters and benchmarks on the dynamics of nanoscience and nanotechnology
  • Français
  • English
Main menu
Home
Contact us
Site map
Search
Tag cloud
Researches
Nanotechnology
Research and industry
Corner of maps
Resources
Glossaries
Bibliography
Reading logs
Info nano
Web links
 
 
A changing of the guard: Executive and director turnover following corporate financial restatements

Book or journal references : Academy of Management Journal, vol. 49, pp. 1119-1136 (2006).

Author(s) : Arthaud-Day , M. L. and Certo , S. T. and Dalton , C. M. and Dalton , D. R.

Abstract :

Using event history analysis, we found that CEOs and CFOs of firms filing a material financial restatement were more than twice as likely to exit their firms as their counterparts in a matched sample. Directors and audit committee members were approximately 70 percent more likely to exit in restatement firms. The magnitude, ubiquity, and temporal proximity of executive and director turnover following a restatement indicate that such events pose a serious threat to organizational legitimacy, independent of firm performance. Restatements therefore provide an important and unique context for studying the accountability of strategic leaders for organizational crises.


Keywords :

TOP MANAGEMENT; BOARD COMPOSITION; DISTRESSED FIRMS; CEO SUCCESSION; ORGANIZATIONAL LEGITIMACY; AUDIT COMMITTEE; UPPER ECHELONS; FAILING FIRMS; PERFORMANCE; GOVERNANCE

url See this document online
©2006 - 2010 Clusters and benchmarks on the dynamics of nanoscience and nanotechnology