Just Talk? CEO Succession Plan Disclosure, Corporate Governance and Firm Value

Qi, Qianru

doi:10.2139/ssrn.2871628

Cited by 3 publications

(2 citation statements)

References 16 publications

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“…Good governance practices also demand that the board should not only be conceived of a succession plan but also should make plan transparent before the stakeholders (OECD, 2004). There is also evidence of calls for transparency of the board succession plan from investor activists and institutions (McConnell & Qi, 2016). Though the council did not prescribe the reporting style of succession plan, but it has listed few principles which the boards must ensure while planning for succession.…”

Section: Succession Plan Disclosurementioning

confidence: 99%

Corporate Governance Disclosure for Complex Ownership Structure in India

Deb

Dube

2017

Indian Journal of Corporate Governance

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The transition of a national economy to global economy affected the corporate operation in a varied manner. The dichotomous models of corporate governance call for clarity in corporate objectives, strategies and responsibilities of the modern corporation. The dichotomous approaches towards corporate disclosure are influenced by ownership models, that is, concentrated (e.g., Germany and Japan) and dispersed (e.g., the United States [USA] and the United Kingdom [UK]). The dispersed ownership model implicates arm's length relationships between shareholders and managers, whereas opposite trend demonstrates concentrated ownership. It implicates heavy reliance on large shareholders for bankrolling the firm. Post-reform market in India developed complex ownership structure which represents both concentrated and disperse trends. Consequently, learning curve for corporate governance disclosure in this type of ownership structure is yet to be consolidated. The present research article draws up a case for improvements in the corporate governance disclosure and attempts to indicate a smarter corporate governance disclosure framework for complex ownership structure in India from the learning of selected jurisdictions (the USA, the UK, Japan and Germany) and best practices. The research article also spotlights on the level of convergence of the corporate disclosure norms in India with the global standards. The scope of this article is limited to non-financial disclosure.

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Section: Succession Plan Disclosurementioning

confidence: 99%

Corporate Governance Disclosure for Complex Ownership Structure in India

Deb

Dube

2017

Indian Journal of Corporate Governance

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“…Studying the lead time allows us to peek into the black box of CEO succession planning and observe actions firms take in the succession process. McConnell and Qi (2016) argue that there is a significant increase in firms claiming that they have a CEO succession plan in place since the SEC rule change. However, to the extent that this rule change can be cosmetic in nature, it is difficult to decipher whether firms genuinely have a succession plan in place or are just -window dressing‖.…”

Section: Introductionmentioning

confidence: 99%

Does Lead Time in CEO Succession Matter? Evidence From Planned Versus Unexpected CEO Departures

Rivolta¹

2018

IJFR

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This paper investigates whether and how lead time in CEO succession matters by comparing disruption costs in firms with planned retirements to those with unexpected CEO departures due to death or illness. Using a comprehensive manually-collected dataset of CEO turnovers from 1999 to 2008, I find evidence that firms with planned CEO retirements have significantly longer lead time and lower disruption costs. Specifically, longer lead time is associated with more favorable cumulative stock performance and firm operating performance around the outgoing CEO’s departure. In fact, firms can save approximately $136 million when there is lead time to plan for succession.

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Worth the Wait? Delay in CEO Succession after Unexpected CEO Departures

Rivolta¹

2017

SSRN Journal

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Just Talk? CEO Succession Plan Disclosure, Corporate Governance and Firm Value

Cited by 3 publications

References 16 publications

Corporate Governance Disclosure for Complex Ownership Structure in India

Corporate Governance Disclosure for Complex Ownership Structure in India

Does Lead Time in CEO Succession Matter? Evidence From Planned Versus Unexpected CEO Departures

Worth the Wait? Delay in CEO Succession after Unexpected CEO Departures

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