Are US family firms subject to agency problems? Evidence from CEO turnover and firm valuation

• Main Authors: CHEN, Xia, DAI, Zhonglan
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2007
• Subjects: Agency problems; family firms; CEO turnover; firm valuation; Accounting; Corporate Finance; Human Resources Management
• Online Access: https://ink.library.smu.edu.sg/soa_research/865; https://ink.library.smu.edu.sg/context/soa_research/article/1864/viewcontent/SSRN_id930824.pdf
• Institution: Singapore Management University

This paper investigates the impact of the founding family's presence in US public firms on the extent of agency problems related to CEO turnover decisions and on firm valuations after poor performance. In particular, we focus on three types of US public firms: family CEO firms, professional CEO...