The impact of the credit risk and Pay-Performance Sensitivity on CEO turnover
| Autor: | Si-Xuan Wu, 吳思萱 |
|---|---|
| Rok vydání: | 2015 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 103 The credit rating is the score which evaluates company’s future operational condition rated by professional institution. It also reflects the company’s credit risk and solvency. Therefore, the credit rating can also be considered an indicator of executives’ performance. Except for financial industry companies, I use companies listing in Taiwan stock exchange during 2009 to 2013 to conduct this research. And I use the score of credit rating as the level of credit risk. First, I investigate whether the credit risk will have impact on CEO turnover rate. Then I tend to find out whether high Pay-Performance Sensitivity will moderate the relationship between credit risk and CEO turnover. Finally, I try to learn whether the compensation committee will moderate the relationship between credit risk and CEO turnover. Empirical results show that the credit risk has a positive effect on CEO turnover. Moreover, I find Pay-Performance Sensitivity negatively moderate the relationship between credit risk and CEO turnover. However, it seems that the compensation committee could not moderate the relationship between credit risk and CEO turnover. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
| Externí odkaz: |
|