Earnings performance measures and CEO turnover

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Jarva, Henry
dc.contributor.author Kallunki, Juha Pekka
dc.contributor.author Livne, Gilad
dc.date.accessioned 2019-06-03T14:14:49Z
dc.date.available 2019-06-03T14:14:49Z
dc.date.issued 2019-06-01
dc.identifier.citation Jarva , H , Kallunki , J P & Livne , G 2019 , ' Earnings performance measures and CEO turnover : Street versus GAAP earnings ' JOURNAL OF CORPORATE FINANCE , vol. 56 , pp. 249-266 . https://doi.org/10.1016/j.jcorpfin.2019.02.005 en
dc.identifier.issn 0929-1199
dc.identifier.other PURE UUID: 7c1d7ae0-c275-4b6e-9d8f-288cd2ece034
dc.identifier.other PURE ITEMURL: https://research.aalto.fi/en/publications/earnings-performance-measures-and-ceo-turnover(7c1d7ae0-c275-4b6e-9d8f-288cd2ece034).html
dc.identifier.other PURE LINK: http://www.scopus.com/inward/record.url?scp=85062341193&partnerID=8YFLogxK
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/38301
dc.description.abstract Prior research reports that analysts focus on street earnings, which are measures that typically exceed GAAP earnings. Using a sample of CEO turnovers from 1993 to 2016 we show that the likelihood and speed of forced CEO turnover - but not voluntary turnover - are higher when analysts exclude income-decreasing items. The association between exclusions and forced turnovers is particularly pronounced for high magnitude exclusions. We also show that greater street exclusion of income-decreasing items, the lower CEO bonus payouts. We find that boards use audited and more conservative GAAP earnings in evaluating and dismissing CEOs, except in the recent period of 2010–2016. en
dc.format.extent 18
dc.format.extent 249-266
dc.language.iso en en
dc.publisher Elsevier Science B.V.
dc.relation.ispartofseries JOURNAL OF CORPORATE FINANCE en
dc.relation.ispartofseries Volume 56 en
dc.rights embargoedAccess en
dc.subject.other Business and International Management en
dc.subject.other Finance en
dc.subject.other Economics and Econometrics en
dc.subject.other Strategy and Management en
dc.subject.other 512 Business and management en
dc.title Earnings performance measures and CEO turnover en
dc.type A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä fi
dc.description.version Peer reviewed en
dc.contributor.department Department of Accounting
dc.contributor.department University of Oulu
dc.contributor.department University of Exeter
dc.contributor.department Department of Accounting en
dc.subject.keyword CEO turnover
dc.subject.keyword GAAP earnings
dc.subject.keyword Street earnings
dc.subject.keyword Street exclusions
dc.subject.keyword Business and International Management
dc.subject.keyword Finance
dc.subject.keyword Economics and Econometrics
dc.subject.keyword Strategy and Management
dc.subject.keyword 512 Business and management
dc.identifier.urn URN:NBN:fi:aalto-201906033386
dc.identifier.doi 10.1016/j.jcorpfin.2019.02.005
dc.date.embargo info:eu-repo/date/embargoEnd/2020-09-06

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