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EconomistVolume 159, Issue 3, September 2011, Pages 279-303

Does Manager Turnover Improve Firm Performance? Evidence from Dutch Soccer, 1986-2004(Article)(Open Access)

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  • aCPB Netherlands Bureau for Economic Policy Analysis, The Hague, Netherlands
  • bUNU-MERIT, Maastricht University, Maastricht, Netherlands

Abstract

This research examines the impact of manager turnover on firm performance using information from the Dutch soccer league in the period 1986-2004. The main advantage of using sports data is that both manager characteristics and decisions and firm outcomes are directly observable. Both difference-in-difference and 2SLS estimates suggest no statistically significant improvements in performance after manager turnover, whereas previous research based on publicly traded firm data has found positive but very small effects of manager turnover on performance. The estimates confirm previous research using soccer data. In addition, estimates suggest that manager quality does not seem to matter in predicting turnover. These estimates are compared and contrasted with studies using publicly traded firm data and studies using soccer data. © 2011 The Author(s).

Author keywords

Economics of sportsFirm performanceManager turnover

Indexed keywords

GEOBASE Subject Index:economicsmanagementsport
Regional Index:Netherlands

Funding details

Funding sponsor Funding number Acronym
Nederlandse Organisatie voor Wetenschappelijk OnderzoekNWO

  • 1

    Acknowledgements I wish to thank Gertjan van den Berg for providing excellent research assistance. I am also very grateful to Infostrada BV, and in particular to Wouter Smak, for access to and help with collecting the data on manager turnover and manager characteristics; and to the Netherlands Organization for Scientific Research (NWO) and the Maastricht Research School of Economics of Technology and Organizations (METEOR) for financial support. Finally, I wish to thank the two referees of this journal, Lex Borghans and Allard Bruinshoofd for providing very useful comments on an earlier version of this paper.

  • ISSN: 0013063X
  • CODEN: ECNMA
  • Source Type: Journal
  • Original language: English
  • DOI: 10.1007/s10645-010-9157-y
  • Document Type: Article

  ter Weel, B.; CPB Netherlands Bureau for Economic Policy Analysis, Netherlands;
© Copyright 2011 Elsevier B.V., All rights reserved.

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