CEO turnover and firm performance: evidence from Vietnam
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Keywords:
CEO turnover
Firm performance
Resignation
Designation
Dismissal
Abstract
The study aims to explore the impact of Chief Executive Officer (CEO) turnover on the performance of listed firms in Vietnam. Using a sample of 513 listed companies from 2010 to 2021, the results show that CEO turnover tends to reduce corporate profitability. The findings remain consistent across several robustness tests. We expect that disruptions caused by CEO turnover lead to changes in strategic priorities, shake up organizational culture, and make it more difficult for new CEOs to assert their roles. These factors can negatively affect firm performance, especially during the transition period, when profits may decline due to a lack of stability in management and development orientation.
References
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Published
Apr 30, 2025
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How to Cite
Anh, V. T. T., and T. T. H. An. “CEO Turnover and Firm Performance: Evidence from Vietnam”. The University of Danang - Journal of Science and Technology, vol. 23, no. 4, Apr. 2025, pp. 1-6, doi:10.31130/ud-jst.2025.183.
