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Working paper

Эмпирическая оценка факторов смены руководителей российских торгуемых компаний

Солнцев С. А., Пентюк А. Р.
The article examines an efficiency of corporate governance in the leading Russia’s companies using empirical data. The impact of companies’ poor financial results on CEO replacement is estimated using original empirical data. The main factor of CEO replacement is ROA fall while fall of company’s capitalization hasn’t significant effect on CEO change. During the crisis years (2008-2009) there was higher rate of CEO changes.