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Board's Monitoring and Retention of Sub-standard and Powerless CEOs

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  • Meg Sato

    (Crawford School of Economics and Government, The Australian National University)

Abstract
Do corporate boards look after shareholder interests? This paper shows that CEO replacement may exhibit excessive inertia, in favor of the incumbent board of directors. I show that even when there is no relationship between the board of directors and CEO, or no threat of the CEO.s power over the board of directors, there is a case in which the board wants to keep sub-standard CEOs.

Suggested Citation

  • Meg Sato, 2010. "Board's Monitoring and Retention of Sub-standard and Powerless CEOs," CIRJE F-Series CIRJE-F-711, CIRJE, Faculty of Economics, University of Tokyo.
    • Handle: RePEc:tky:fseres:2010cf711
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    References listed on IDEAS

    as
    1. Meg Sato, 2009. "Insular Decision-making in the Board Room : Why Boards Retain and Hire Sub-Standard CEOs," Microeconomics Working Papers 22884, East Asian Bureau of Economic Research.
    2. Meg Sato, 2009. "Insular decision-making in the board room: why boards retain and hire sub-standard ceos," Asia Pacific Economic Papers 384, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
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