Governance and CEO Turnover: Do Something or Do the Right Thing? by Raymond Fisman, Rakesh Khurana, Matthew Rhodes-Kropf

SSRN-Governance and CEO Turnover: Do Something or Do the Right Thing? by Raymond Fisman, Rakesh Khurana, Matthew Rhodes-KropfConventional wisdom suggests that replacing a manager if the stock price is falling is good. Along the same lines we often view (and teach) that managerial entrenchment is bad. However, maybe that is too simplistic of view. Entrenchment can play a positive role in reducing