Directors' pay and turnover: an application to a sample of large UK firms

Article Abstract:

A study was conducted to analyze the effectiveness of the management dismissal function in companies in the UK between 1986 and 1994 by examining the turnover of CEOs against corporate performance. Theoretical influences affecting directors' salaries and CEO turnover were examined. Results indicated an inverse association between CEO dismissal and corporate performance. Findings also showed a negative correlation between CEO turnover and pre-dated shareholder returns.

Research, Corporate directors, Compensation and benefits, Chief executive officers, Business success

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Small sample testing for unit roots

Article Abstract:

Calculation of the size and power of unit root tests is possible for small samples through modification of the existing data generating model. In lieu of customizing percentiles to cover different applications, the model generates tables of critical values that can be adapted to suit a particular data set. This bootstrapping process approximates the distribution of the unobservable erros in the estimation of real parameters.

Distributions, Theory of (Functional analysis), Theory of distributions, Statistical hypothesis testing

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Sample selection bias correction for missing response observations

Article Abstract:

Building of economic research models by using sample-selection methods is discussed. Additional information on economic research methodology is also included.

Models, Economic research, Mathematical models

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