Most firms will at some point in time experience a change of their Chief Executive Officer (CEO ). This study examines share price volatility following a CEO turnover at Euronext- listed Dutch companies. A turnover may be forced or voluntary; the successor can be an insider or an outsider. The findings of this research reveal little evidence for higher volatility levels following a turnover. There is significant evidence, that forced CEO turnovers cause more volatility than voluntary turnovers. Some evidence was found that an outside successor after a forced turnover causes higher volatility than the appointment of an inside successor.
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Finance
The rise and fall. Share price volatility following ceo turnover
