| Publikationstyp: | Beitrag in wissenschaftlicher Zeitschrift |
| Art der Begutachtung: | Peer review (Publikation) |
| Titel: | New brooms : the stock market reaction to foreign CEO succession in Switzerland |
| Autor/-in: | Seelhofer, Daniel |
| DOI: | 10.1504/EJIM.2010.034964 |
| Erschienen in: | European Journal of International Management |
| Band(Heft): | 4 |
| Heft: | 5 |
| Seite(n): | 506 |
| Seiten bis: | 523 |
| Erscheinungsdatum: | 2010 |
| Verlag / Hrsg. Institution: | Inderscience |
| ISSN: | 1751-6765 1751-6757 |
| Sprache: | Englisch |
| Fachgebiet (DDC): | 332.6: Investition |
| Zusammenfassung: | Using event study methodology, this paper examines the immediate investor reaction to foreign and domestic CEO succession announcements in internationalised firms and analyses whether the stock market reacts differently to the two. Results suggest that crossover successions (e.g. where a foreigner follows a domestic CEO) lead to a significant negative reaction during the days immediately surrounding the succession event, whereas regular, i.e. non-crossover, successions are not associated with significant abnormal returns. It is concluded that the stock market punishes socio-cultural dissimilarity between successor and predecessor because it contributes to uncertainty about the succession. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/8489 |
| Volltext Version: | Publizierte Version |
| Lizenz (gemäss Verlagsvertrag): | Lizenz gemäss Verlagsvertrag |
| Departement: | School of Management and Law |
| Enthalten in den Sammlungen: | Publikationen School of Management and Law |
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Seelhofer, D. (2010). New brooms : the stock market reaction to foreign CEO succession in Switzerland. European Journal of International Management, 4(5), 506–523. https://doi.org/10.1504/EJIM.2010.034964
Seelhofer, D. (2010) ‘New brooms : the stock market reaction to foreign CEO succession in Switzerland’, European Journal of International Management, 4(5), pp. 506–523. Available at: https://doi.org/10.1504/EJIM.2010.034964.
D. Seelhofer, “New brooms : the stock market reaction to foreign CEO succession in Switzerland,” European Journal of International Management, vol. 4, no. 5, pp. 506–523, 2010, doi: 10.1504/EJIM.2010.034964.
SEELHOFER, Daniel, 2010. New brooms : the stock market reaction to foreign CEO succession in Switzerland. European Journal of International Management. 2010. Bd. 4, Nr. 5, S. 506–523. DOI 10.1504/EJIM.2010.034964
Seelhofer, Daniel. 2010. “New Brooms : The Stock Market Reaction to Foreign CEO Succession in Switzerland.” European Journal of International Management 4 (5): 506–23. https://doi.org/10.1504/EJIM.2010.034964.
Seelhofer, Daniel. “New Brooms : The Stock Market Reaction to Foreign CEO Succession in Switzerland.” European Journal of International Management, vol. 4, no. 5, 2010, pp. 506–23, https://doi.org/10.1504/EJIM.2010.034964.
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