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Executive Job Matching : = Estimates from a Dynamic Model.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Executive Job Matching :/
Reminder of title:	Estimates from a Dynamic Model.
Author:	Huang, Ruoyan.
Description:	1 online resource (93 pages)
Notes:	Source: Dissertation Abstracts International, Volume: 78-03(E), Section: A.
Contained By:	Dissertation Abstracts International78-03A(E).
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9781369128055

Executive Job Matching : = Estimates from a Dynamic Model.
Huang, Ruoyan.

Executive Job Matching :Estimates from a Dynamic Model. - 1 online resource (93 pages)

Source: Dissertation Abstracts International, Volume: 78-03(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

I evaluate how firms' and CEOs' learning about their fit with one another affects CEO turnover and compensation decisions. Building and estimating a dynamic model of the executive labor market, I find that learning and selection eliminate low-quality matches and provide explanatory power for the excess skewness of CEO compensation in the data after controlling for firm and CEO characteristics. I further establish that learning generates a hump-shaped hazard rate curve of CEO turnover conditional on CEO tenure. Using a hand-collected dataset of CEO turnover, I discover that the speed and precision of learning determine the level and length of the "discovery phase" of the conditional hazard rate curve. I also find that CEO compensation demonstrates a firm's evaluation of the match quality and is predictive of the expected future tenure of its CEO. In short, I show the importance of learning and selection in explaining the relations between CEO compensation, CEO turnover, and firm performance.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9781369128055Subjects--Topical Terms:

559073
Finance.
Index Terms--Genre/Form:

554714
Electronic books.

Executive Job Matching : = Estimates from a Dynamic Model.
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100 1 $a Huang, Ruoyan. $3 1179091
245 1 0 $a Executive Job Matching : $b Estimates from a Dynamic Model.
264 0 $c 2016
300 $a 1 online resource (93 pages)
336 $a text $b txt $2 rdacontent
337 $a computer $b c $2 rdamedia
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500 $a Source: Dissertation Abstracts International, Volume: 78-03(E), Section: A.
500 $a Advisers: Ron Kaniel; Toni M. Whited.
502 $a Thesis (Ph.D.) $c University of Rochester $d 2016.
504 $a Includes bibliographical references
520 $a I evaluate how firms' and CEOs' learning about their fit with one another affects CEO turnover and compensation decisions. Building and estimating a dynamic model of the executive labor market, I find that learning and selection eliminate low-quality matches and provide explanatory power for the excess skewness of CEO compensation in the data after controlling for firm and CEO characteristics. I further establish that learning generates a hump-shaped hazard rate curve of CEO turnover conditional on CEO tenure. Using a hand-collected dataset of CEO turnover, I discover that the speed and precision of learning determine the level and length of the "discovery phase" of the conditional hazard rate curve. I also find that CEO compensation demonstrates a firm's evaluation of the match quality and is predictive of the expected future tenure of its CEO. In short, I show the importance of learning and selection in explaining the relations between CEO compensation, CEO turnover, and firm performance.
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2018
538 $a Mode of access: World Wide Web
650 4 $a Finance. $3 559073
650 4 $a Labor economics. $3 554775
655 7 $a Electronic books. $2 local $3 554714
690 $a 0508
690 $a 0510
710 2 $a ProQuest Information and Learning Co. $3 1178819
710 2 $a University of Rochester. $b Business Administration. $3 1179092
773 0 $t Dissertation Abstracts International $g 78-03A(E).
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=10157788 $z click for full text (PQDT)