CEO Turnover in Russia

Abstract The paper analyzes the turnover of CEOs in public and private firms. We conduct a large sample comparison of the turnover of CEOs in public and private firms to get an idea of whether and how much the corporate governance environment affects decisions to dismiss a CEO. A review of the literature allows us to characterize the mechanisms of turnover of senior managers. The factors underlying the succession of general directors are highlighted, such as: the size of the board of directors, the structure of business ownership, managerial entrenchment, etc. Research Information Base - RUSLANA Database. The methodology for forming the base was taken into account based on the results of previous studies. The article provides an empirical analysis of the characteristics of Russian corporations and their general directors and determines the intensity of turnover of managers. We show that state-owned firms have higher succession rates for CEOs than private companies. Finally, we show that increasing the performance of a firm after changing its CEO is more obvious to private firms than to state-owned firms.