caa a22 4500 463187423 CHVBK 20180406164858.0 cr unu---uuuuu 170326e20071001xx s 000 0 eng 10.1007/s11156-007-0034-y doi (NATIONALLICENCE)springer-10.1007/s11156-007-0034-y Changes in CEO compensation structure and the impact on firm performance following CEO turnover [Elektronische Daten] [David Blackwell, Donna Dudney, Kathleen Farrell] We document changes in compensation structure following CEO turnover and relate them to future performance. Compared to outgoing CEOs, incoming CEOs derive a significantly greater percentage of their compensation from option grants and new stock grants. The voluntary turnover sample shows similar changes in compensation structure while the forced turnover sample results suggest that new stock grants drive the significant increase in incentive compensation following turnover. Post-turnover performance is positively associated with new stock grants as a percentage of total compensation in the full sample and when analyzing forced and voluntary turnovers separately. We find limited evidence that future operating income is positively associated with option grants following forced turnover. Post-turnover improvement in operating income is positively associated with an increase in new stock grants for the incoming relative to the outgoing CEO. Springer Science+Business Media, LLC, 2007 Executive compensation nationallicence CEO turnover nationallicence Compensation structure nationallicence Firm performance nationallicence Blackwell David Department of Finance, Mays Business School, Texas A&M University, 4218 TAMU, 77845-4218, College Station, TX, USA aut Dudney Donna Department of Finance, University of Nebraska-Lincoln, 68588-0490, Lincoln, NE, USA aut Farrell Kathleen Department of Finance, University of Nebraska-Lincoln, 68588-0490, Lincoln, NE, USA aut Review of Quantitative Finance and Accounting Springer US; http://www.springer-ny.com 29/3(2007-10-01), 315-338 0924-865X 29:3<315 2007 29 11156 https://doi.org/10.1007/s11156-007-0034-y text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s11156-007-0034-y text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Blackwell David Department of Finance, Mays Business School, Texas A&M University, 4218 TAMU, 77845-4218, College Station, TX, USA aut NATIONALLICENCE 700 1- Dudney Donna Department of Finance, University of Nebraska-Lincoln, 68588-0490, Lincoln, NE, USA aut NATIONALLICENCE 700 1- Farrell Kathleen Department of Finance, University of Nebraska-Lincoln, 68588-0490, Lincoln, NE, USA aut NATIONALLICENCE 773 0- Review of Quantitative Finance and Accounting Springer US; http://www.springer-ny.com 29/3(2007-10-01), 315-338 0924-865X 29:3<315 2007 29 11156 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer