| Record ID | harvard_bibliographic_metadata/ab.bib.12.20150123.full.mrc:653531668:2346 |
| Source | harvard_bibliographic_metadata |
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LEADER: 02346cam a2200385 a 4500
001 012777837-3
005 20110902192636.0
008 100920s2009 ke b 000 0 eng
010 $a 2010305797
020 $a9966778454
035 0 $aocn676073946
040 $aDLC$cDLC
042 $alcode$apcc
043 $af-nr----
050 00 $aHG5881.Z95$bN533 2009
100 1 $aAdelegan, Olatundun Janet.
245 10 $aDoes corporate leadership matter? :$bevidence from Nigeria /$cby Olatundun Janet Adelegan.
260 $aNairobi :$bAfrican Economic Research Consortium,$cc2009.
300 $a42 p. ;$c25 cm.
490 0 $aAERC research paper ;$v189
500 $a"September 2009."
504 $aIncludes bibliographical references (p. 35-38).
520 $aThis study examines the impact of top management changes on stock returns in Nigeria from 1997 to 2005. The study also reflects on the impact of board composition and politics on shareholders wealth. The test of shareholder wealth effects around the time of top management changes is structured as an event study. Data were obtained principally from the Lagos and Ibadan branches of the Nigerian Stock Exchange (NSE) and the Securities and Exchange Commission (SEC). The study concludes that change in top management, including the composition of the board of directors, matters because announcements of board changes contribute to shareholder wealth, while corporate leaders affect the performance of the organization. In Nigeria, the announcement of the appointment of politically connected top managers produces positive information content and positive investor reaction, while the announcement of top management changes without political connections results in negative shareholder wealth. The findings are consistent with hypothesized benefits from internal mechanisms of corporate control in management change.
650 0 $aManagement$zNigeria$vAbstracts.
610 20 $aNigerian Stock Exchange.
610 10 $aNigeria.$bSecurities and Exchange Commission.
650 0 $aStocks$zNigeria$vPeriodicals.
650 0 $aStock exchanges$zNigeria$vPeriodicals.
650 0 $aLeadership$zNigeria$vAbstracts.
655 7 $aAbstracts.$2fast
655 7 $aPeriodicals.$2fast
830 0 $aAERC research paper ;$v189.
899 $a415_565459
988 $a20110519
906 $0DLC