CEO Turnover and Market Reaction in Indonesia
This research examines Chief Executive Officer (CEO) turnover and market reaction in Indonesia. The sample of this research consists of 213 CEO turnover announcements for Indonesia Stock Exchange during 2000–2010 period. T-tests were used to investigate the effect of CEO turnover announcement on...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Universitas Indonesia
2013
|
| Subjects: | |
| Online Access: | http://eprints.usm.my/38422/1/CEO_Turnover_and_Market_Reaction_in_Indonesia.pdf |
| _version_ | 1825833849604538368 |
|---|---|
| author | Setiawan, Doddy Lian, Kee Phua Hong, Kok Chee |
| author_facet | Setiawan, Doddy Lian, Kee Phua Hong, Kok Chee |
| author_sort | Setiawan, Doddy |
| collection | USM |
| description | This research examines Chief Executive Officer (CEO) turnover and market reaction in Indonesia.
The sample of this research consists of 213 CEO turnover announcements for Indonesia Stock
Exchange during 2000–2010 period. T-tests were used to investigate the effect of CEO turnover announcement
on abnormal stock return during the event windows periods. The results of this research
show that there is positive reaction on the CEO turnover announcements. This research considers
both routine and non routine CEO turnover processes. This research finds that both turnover processes
have information content to investor. This research also finds positive reaction on the announcements
of outsider incoming CEO, while investors do not react on the announcement of insider
incoming CEO. Thus, this research provides evidence that CEO turnover announcement have information
content. |
| first_indexed | 2024-03-06T15:13:58Z |
| format | Article |
| id | usm.eprints-38422 |
| institution | Universiti Sains Malaysia |
| language | English |
| last_indexed | 2024-03-06T15:13:58Z |
| publishDate | 2013 |
| publisher | Universitas Indonesia |
| record_format | dspace |
| spelling | usm.eprints-384222018-01-18T04:57:04Z http://eprints.usm.my/38422/ CEO Turnover and Market Reaction in Indonesia Setiawan, Doddy Lian, Kee Phua Hong, Kok Chee HD28-70 Management. Industrial Management This research examines Chief Executive Officer (CEO) turnover and market reaction in Indonesia. The sample of this research consists of 213 CEO turnover announcements for Indonesia Stock Exchange during 2000–2010 period. T-tests were used to investigate the effect of CEO turnover announcement on abnormal stock return during the event windows periods. The results of this research show that there is positive reaction on the CEO turnover announcements. This research considers both routine and non routine CEO turnover processes. This research finds that both turnover processes have information content to investor. This research also finds positive reaction on the announcements of outsider incoming CEO, while investors do not react on the announcement of insider incoming CEO. Thus, this research provides evidence that CEO turnover announcement have information content. Universitas Indonesia 2013-07 Article PeerReviewed application/pdf en http://eprints.usm.my/38422/1/CEO_Turnover_and_Market_Reaction_in_Indonesia.pdf Setiawan, Doddy and Lian, Kee Phua and Hong, Kok Chee (2013) CEO Turnover and Market Reaction in Indonesia. Indonesian Capital Market Review, 5 (2). pp. 85-94. ISSN 2356-3818 http://journal.ui.ac.id/index.php/icmr/article/view/1899 |
| spellingShingle | HD28-70 Management. Industrial Management Setiawan, Doddy Lian, Kee Phua Hong, Kok Chee CEO Turnover and Market Reaction in Indonesia |
| title | CEO Turnover and Market Reaction in Indonesia |
| title_full | CEO Turnover and Market Reaction in Indonesia |
| title_fullStr | CEO Turnover and Market Reaction in Indonesia |
| title_full_unstemmed | CEO Turnover and Market Reaction in Indonesia |
| title_short | CEO Turnover and Market Reaction in Indonesia |
| title_sort | ceo turnover and market reaction in indonesia |
| topic | HD28-70 Management. Industrial Management |
| url | http://eprints.usm.my/38422/1/CEO_Turnover_and_Market_Reaction_in_Indonesia.pdf |
| work_keys_str_mv | AT setiawandoddy ceoturnoverandmarketreactioninindonesia AT liankeephua ceoturnoverandmarketreactioninindonesia AT hongkokchee ceoturnoverandmarketreactioninindonesia |