@article{article_1353644, title={THE EFFECT OF CEO CHANGE ON STOCK RETURN WITHIN THE PERSPECTIVE OF UPPER ECHELONS THEORY}, journal={Pamukkale Üniversitesi Sosyal Bilimler Enstitüsü Dergisi}, pages={91–102}, year={2024}, DOI={10.30794/pausbed.1353644}, author={Altınçubuk, Beste and Unal, Serkan}, keywords={CEO Change, Stock Return, Borsa İstanbul}, abstract={The Upper Echelons Theory states that the characteristics of individuals in top management have a significant impact on firm
performance and strategies. In line with this, in this study, the relationship between CEO change, frequency of CEO change,
CEO tenure, and stock price performance has been examined. In the research, the year of the CEO change and the stock
performance in the following year were used as dependent variables. CEO change, the frequency of CEO change and the year
the CEO spent in the same position were used as independent variables. In the research, the CEO position of the companies
in the BIST100 index in the years 2011-2021 and the stock performance data in the years 2011-2022 were used. According
to the results obtained from the research; there is no statistically significant relationship between CEO change, CEO turnover
frequency and CEO tenure and stock price performance.}, number={60}, publisher={Pamukkale University}