Top management turnover following mergers and acquisitions
研究了并购后目标公司高层管理团队在5年内的离职情况，发现离职率显著高于正常水平，且高层级、高知名度的管理者离职更快，但离职率与收购类型无关。
Abstract Little is known about the effects of a merger or an acquisition on an acquired company's management team. This research follows the employment status of target companies' top managers for 5 years from the date of acquisition. Results indicate that turnover rates in acquired top management teams are significantly higher than ‘normal’ turnover rates, and that visible, very senior executives are likely to turn over sooner than their less‐visible colleagues. Variations in top management turnover rates, however, are not accounted for by type of acquisition (i.e. related or unrelated).