Employee disputes and CEO turnover: Evidence from labor lawsuits

被引：8

作者：

Unsal, Omer ^{[1
]}

Rayfield, Blake ^{[2
]}

机构：

[1] Merrimack Coll, Girard Sch Business, Dept Finance, N Andover, MA 01845 USA

[2] Indiana State Univ, Scott Coll Business, Terre Haute, IN 47809 USA

来源：

JOURNAL OF CORPORATE ACCOUNTING AND FINANCE | 2019年 / 30卷 / 02期

关键词：

CEO tenure; CEO pay; labor litigation; labor law; CORPORATE GOVERNANCE; ACCOUNTING RESTATEMENTS; LITIGATION; DIRECTORS; COMPENSATION; CONSEQUENCES; ENFORCEMENT; INCENTIVES; PLAINTIFFS; REPUTATION;

D O I：

10.1002/jcaf.22379

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

In this study, we use a unique hand-collected data set of employee lawsuits to understand the effect of litigation on CEO turnover. We gather 28,258 employee disputes (after initial court hearing) dating between the years 2000 and 2014 to test the relationship between executive turnover following employee allegations. We find increased turnover of CEOs following labor lawsuits. Additional analysis suggests that, following the lawsuits, CEO compensation decreases and becomes more sensitive to cash holding. Our results show that employee lawsuits have an impact on CEO turnover, regardless of the case outcome or motivation. Overall, we document the importance of employee treatment in the workplace. We conclude employee treatment may impact both the tenure and future job prospects of a CEO.

引用

页码：44 / 63

页数：20

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