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Journal article
Evaluation of Managerial Ability in the Japanese Setting
The Japanese accounting review, v 8(1), pp 1-22
01 Jan 2018
Abstract
Following Demerjian, Lev, and McVay (2012), we quantify managerial ability using a sample of Japanese listed firms for the period 2005-2015. Consistent with their findings, we find that the estimated managerial ability is strongly correlated with manager-fixed effects. Further, we find that the managerial ability is economically and significantly associated with the stock price reactions to CEO turnovers and changes in future return on assets following CEO turnovers. Our results are robust to alternative specifications of DEA models and inputs used in the estimation of firm efficiency. We contribute to the literature by generalizing the validity of the managerial ability introduced by Demerjian, Lev, and McVay (2012) to a non-US setting.
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Details
- Title
- Evaluation of Managerial Ability in the Japanese Setting
- Creators
- Hsihui Chang - Drexel UniversitySouhei Ishida - Saitama UniversityTakuma Kochiyama - Hitotsubashi University
- Publication Details
- The Japanese accounting review, v 8(1), pp 1-22
- Publisher
- Kobe Univ, Research Inst Economics & Business Adm
- Number of pages
- 22
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Accounting
- Web of Science ID
- WOS:000457531800001
- Other Identifier
- 991019168328004721
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- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Business, Finance