2019
DOI: 10.2139/ssrn.3312801
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The Role of Boards’ Misperceptions in the Relation Between Managerial Turnover and Performance: Evidence From European Football

Raphael Flepp,
Egon P. Franck

Abstract: In this paper, we account for boards' misperceptions when replacing a top manager by differentiating between managerial turnovers following actual poor performance and managerial turnovers following seemingly poor performance due to bad luck in order to investigate their subsequent effects on performance. We focus on managerial changes within football organizations and analyze dismissals from the top European leagues. To account for the mean reversion of performance, we create a control group of non-dismissals… Show more

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Cited by 2 publications
(2 citation statements)
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“…Thus, goals are rare events that potentially bias our results. However, scoring chances occur much more frequently (Brechot & Flepp, 2020; Flepp & Franck, 2019). We thus employ the concept of expected goals to obtain an alternative dependent variable and to test the robustness of our prior findings.…”
Section: Resultsmentioning
confidence: 99%
“…Thus, goals are rare events that potentially bias our results. However, scoring chances occur much more frequently (Brechot & Flepp, 2020; Flepp & Franck, 2019). We thus employ the concept of expected goals to obtain an alternative dependent variable and to test the robustness of our prior findings.…”
Section: Resultsmentioning
confidence: 99%
“…Thus, goals are rare events that potentially bias our results. However, scoring chances occur much more frequently (Brechot & Flepp, 2018;Flepp & Franck, 2019). We thus employ the concept of expected goals to obtain an alternative dependent variable and to test the robustness of our prior findings.…”
Section: Additional Analysesmentioning
confidence: 99%