| Summary: | 碩士 === 輔仁大學 === 企業管理學系管理學碩士班 === 104 === In this study I am trying to find the effect between CEO turnover and performance on the listed firms in China. And if company had frequently CEO turnover will weaken the effect or not. Finally, figure out does the manager labor market effectiveness in China.
In case of exam the relationship between CEO turnover and performance when CEO turnover frequently and does CEO turnover will improve firm performance, I using the sample of 17942 observations from the listed firms in China in the sampling period of 2003-2013.
The empirical result show that the CEO will easier be replace when they get worse firm performance. However, well firm performance will cause CEO turnover (headhunted) when the company has frequency CEO turnover. I also find that CEO depends on their good performance so they can be hired for another company’s CEO after CEO turnover. But the effect of improving performance are weakly when CEO turnover. It might because limited power of one person, or the planned economic in China. Nevertheless, we can still see that excellence CEO will have positive effect on firm performance.
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