Abstract:PurposeThe authors examine the spillover effects of CEO removal on the corporate financial policies of competing firms among S&P 1500 firms.Design/methodology/approachThe authors used generalized estimating equations (GEE) on a sample of S&P 1,500 firms from 2000 to 2018 to test this study's research hypotheses. Return on assets (ROA), investment policy, and payout policy are used as proxies for corporate policies.FindingsThe authors found an increase in ROA and dividend payout in the immediate afterma… Show more
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