Young executives may leave the firm if they think that the older executives including the CEO (entrenchment?) do not invest enough to prepare the future of the firm. In fact do you know cases or papers where young executives vote with their feet and leave their company, because of insufficient good prospects?
Dear colleague,
I recently read an interesting paper about codes of ethics as a governance mechanism that can also help to find an answer on your question: Hill/Rapp: Codes of Ethical conduct: a bottom-up Approach, Journal of business ethics 2014 621-630
You might want to have a look at the large literature on alternative organization - co-ops, worker self management, intentional communities and so on. A good place to start could be Parker, Cheney, Fournier and Land (eds) The Companion to Alternative Organization. Routledge 2014. Hope that helps?
Thanks you for your answers. It helps me. I must enlarge my vision of the subject and not read only articles, even if they are extracted from the best financial international reviews
Hi,
I am wondering if tournament incentives between young and elder executives may benefit to the firm as a governance device. The evidence given by this paper is rather puzzling:
LH Hass, MA Muller, S Vergauwe, "Tournament incentives and corporate fraud'", Journal of corporate finance, 2015 forthcoming.
regards
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