首页|Don't stop me now! Effects of CEO turnover on the performance of public institutions
Don't stop me now! Effects of CEO turnover on the performance of public institutions
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NETL
NSTL
Taylor & Francis
This study explored the impact of CEO turnover during the term of office on public institutions' performance. We examined the unique situation of South Korea - using an exogenously generated remaining term of office due to former President Park Geun-hye's impeachment in 2017 as an instrumental variable (Ⅳ) for the event of CEO turnover - to identify causal relations. The results showed that public institutions' performance declined when the CEO was replaced after failing to serve the three-year term. Our findings suggest that safeguarding CEOs' stable positions from political influences is crucial to enhancing public institutions' performance.
Public institutionCEO turnoverperformanceinstrumental variablesouth Korea
Hoyong Jung
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The Department of Economics, Kookmin University, Seoul, South Korea
NETL
NSTL
Taylor & Francis
