The Research of the Relationship between SOE's Past Performance and CEO Forced Turnover under Multiple Situational Factors

Abstract

Abstract: Using comprehensive financial and accounting data on China's State-owned listed firms from 2007 to 2016, we estimate the relationship between past performance and CEO forced turnover in order to prove that China's State-owned listed firms have multiple goals. There is a significant negative relationship between past performance and CEO forced turnover in loss-making firms but no such relationship in profit-making firms. These results indicate State-owned enterprises' multiple goals have effects on the relationship between past performance and CEO forced turnover.

Key words: past performance, CEO forced turnover, state-owned enterprises' multiple goals, corporate governance efficiency

CLC Number:

F270

WU Ming-xia, XIE Yong-zhen. The Research of the Relationship between SOE's Past Performance and CEO Forced Turnover under Multiple Situational Factors[J]. , 2018(03): 64-71.

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