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Article Summary
1) “Performance Changes Following Top Management Dismissals” was published in The Journal of Finance in September 1995 by David and Dianne Denis. Authors study is documenting that forced resignations of top managers are preceded by large and significant declines in operating performance and followed by large improvements in performance. ... Following the management change, these firms significantly downsize their operations and are subject to a high rate of corporate control activity. ...
2)
A) Ho hypothesis (Management turnover doesn’t lead to improved firm performance). ...
B) H1 hypothesis (Management turnover leads to improved firm performance). ... From each firm, they identified top management turnover by following the composition of the top management team, defined as the CEO, chairperson of the board, and the president, for a period of four years using Standard and Poor’s Register of Corporations, Directors, and Executives.
Approximate Word count = 483
Approximate Pages = 1.9
(250 words per page double spaced)
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