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Title: What triggers top management turnovers in China?
Authors: Cheng, P
Li, JL
Tong, WHS 
Keywords: China
CEO turnovers
SOE reform
Issue Date: 2008
Publisher: Elsevier
Source: Journal of contemporary accounting and economics, 2008, v. 4, no. 1, p. 50-87 How to cite?
Journal: Journal of contemporary accounting and economics 
Abstract: Studies on management turnover in Chinese companies typically find that turnover decisions are associated with companies' accounting performance. Using a sample of Chinese company turnovers during 2000–2003, we disaggregate their net-earnings into core, recurring non-core, and other non-recurring components. Analyzing these earnings components, we show that turnover decisions for government firms are related negatively only to recurring earnings which consist of operating, administrative and financial expenses. Leverage also plays a significant role suggesting the concern that high debt levels may reduce the impacts of the Chinese SOE reforms. However, turnovers in private firms are associated with poor core earnings, a result similar with profit-maximizing firms in developed economies.
ISSN: 1815-5669
DOI: 10.1016/S1815-5669(10)70029-1
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