The financial performance of listed companies : does CEO tenure have an impact?

dc.contributor.advisorRaina, Rajinderen
dc.contributor.emailichelp@gibs.co.zaen
dc.contributor.postgraduatePillay, Mageshen
dc.date.accessioned2013-09-06T22:44:16Z
dc.date.available2011-07-04en
dc.date.available2013-09-06T22:44:16Z
dc.date.created2010-11-10en
dc.date.issued2010en
dc.date.submitted2011-06-18en
dc.descriptionDissertation (MBA)--University of Pretoria, 2010.en
dc.description.abstractIt is widely held that CEOs are central to the successful financial performance of companies. Yet, little attention has been given to the correlation between CEO tenure and financial performance of companies specifically. The purpose of this study was to determine whether CEO tenure has an impact on financial performance of companies in South Africa. The financial performance variables for the study were ROA and ROE. The performance of 30 JSE listed companies from three industries, namely, mining, retail and real estate, between 1995 to 2007 was examined. This gave a total of 62 data observations across the selected three tenure categories: short tenure (one to three years); medium tenure (four to five years); and long tenure (six or more years). The results showed that the average tenure for South African CEOs was four years; this was slightly lower than the findings of previous studies conducted in the USA. Medium and long tenure showed better financial performance for ROA than short tenure, while there was no statistically significant finding for ROE. Therefore from an ROA point of view, as tenure increases so does financial performance, until a certain point at which it is anticipated that lengthy tenure will lead to a decline in financial performance.en
dc.description.availabilityunrestricteden
dc.description.departmentGordon Institute of Business Science (GIBS)en
dc.identifier.citationPillay, M. 2010, The financial performance of listed companies : does CEO tenure have an impact?, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/25628 >en
dc.identifier.otherF11/484/hjen
dc.identifier.upetdurlhttp://upetd.up.ac.za/thesis/available/etd-06182011-192422/en
dc.identifier.urihttp://hdl.handle.net/2263/25628
dc.language.isoen
dc.publisherUniversity of Pretoriaen_ZA
dc.rights© 2010, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretorien
dc.subjectUCTDen_US
dc.subjectFinancial performanceen
dc.subjectListed companiesen
dc.subjectReturn of earnings (ROE)en
dc.subjectCEO tenureen
dc.subjectReturn on assets (ROA)en
dc.subjectChief executive officer (CEO)
dc.titleThe financial performance of listed companies : does CEO tenure have an impact?en
dc.typeDissertationen

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