德勤－复旦会计论坛系列讲座之一百六十五
时 间：2019年6月6日（周四）下午14：00
地 点：史带楼604室
主持人：张新 副教授
Speaker：John (Jianqiu) Bai (Northeastern University)
Title：Do Outside CEOs Improve Firm Efficiency? Plant-level Evidence
Abstract：Prior studies document mixed results on the relative performance of outside and inside CEOs. Using detailed plant-level data, we find strong evidence that outsiders achieve higher growth in productivity compared to insiders. Contrary to conventional wisdom, we find that outsiders improve profitability in both: low- and high-performing firms. Efficiency gains arise mainly from consolidation of product offering, adoption of newer technology, increases in labor productivity, and more active restructuring activity. Changes in productivity help explain CEO appointment announcement returns and speed of learning about CEO’s ability. Overall, our results suggest that outsiders are more effective in correcting pre-turnover inefficiencies.
会计学系
2019-6-3
-
活动讲座
-
新闻动态
-
微信头条
-
招生咨询
-
媒体视角
-
瞰见云课堂
