公司金融教研室学术讲座

报告题目：Should I Stay or Leave? Employee Disapproval and Voluntary CEO Departure
报  告 人：杨雨澄（香港中文大学 助理教授）
主  持 人：柳建华（中山大学岭南学院 教授） 
时      间：2025年6月23日（周一）15:00
地      址：岭南堂汪道涵会议室（101）
语      言：中英文

摘要:
      Using employee ratings of CEOs from Glassdoor.com, we find that higher levels of employee disapproval are associated with an increased likelihood of voluntary CEO departure. The positive relation is stronger when firm performance is good, thus ruling out poor firm performance as an alternative explanation. The positive relation is also more pronounced when CEOs work for human-capital-intensive firms and have greater outside opportunities, but weaker when CEOs have shorter career horizons and hold more pecuniary incentives tied to the current employer. Analyses of employee turnover, firm value, and CEO career outcomes provide evidence that protecting reputation in CEO labor markets is a key mechanism through which employee disapproval drives voluntary CEO departure decisions. Overall, we provide novel evidence that the extent to which employees disapprove of their CEOs influences voluntary CEO departure decisions.

报告人介绍：

       杨雨澄，香港中文大学会计系助理教授、专业会计（PACC）项目主任。获得路易斯克拉克学院的数学学士学位，荣誉经济学学士学位，加州大学戴维斯分校的经济学硕士学位，以及罗切斯特大学西蒙商学院的工商管理硕士学位和博士学位。研究涉及与财务披露和监管相关的问题、金融中介机构的行为以及会计信息的宏观经济影响等，论文曾发表在The Accounting Review，Accounting, Organizations and Society等国际知名期刊。

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