Abstract
ABSTRACT Using 2012–2019 Chinese stock market data, this study examined the impact of corporate site visits (CSVs) on senior executive forced turnover. We found that the number of CSVs is negatively associated with the probability of senior executive forced turnover. For more investor participants and more questions asked during CSVs, senior executive forced turnovers are less likely to occur. Institutional investors have a more significant impact on senior executive forced turnover. This effect is dominated by the non-state-owned enterprises or companies with poor performance, high asset tangibility, and weak insider power. The results can guide policymakers who regulate investor relations and informal corporate governance.
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