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[1] Harrison, R. J., Torres, D. L. and Kukalis, S.. The Changing of the Guard: Turnover and Structural Change in the Top Management Positions [J]. Administrative Science Quarterly, 1988, 33(1):211-232

[2] Comte, T. E., & Mihal, W. L.. CEO Turnover: Causes and Interpretations[J]. Business Horizons, 1990, 33(4): 47-51.

[3] Gamson, W.A. and Scoth, N.A.. Scapegoating in Baseball[J]. American Journal of Sociology, 1964, 70(1): 69-72

[4] Grusky, O.. Managerial Succession and Organizational Effectiveness[J]. American Journal of Sociology, 1963,69(1): 21-30

[5] Allen, M.P., Panian, S.K. and Lotz, R.E.. Managerial Succession and Organizational Performance: A Recalcitrant Problem Revisited[J]. Administrative Science Quarterly, 1979, 24(2): 167-180

[6] Helmich, D.L.. Organization Growth and Succession Patterns[J]. Academy of Management Journal, 1974, 17(4): 771-775[7] Murphy, K.J. and Zimmerman, J.L.. Financial Performance Surrounding CEO Turnover[J]. Journal of Accounting and Economics, 1993,16(3): 273-315

[8] Becker, G.. Human Capital[M]. Chicago: University of Chicago Press, 1975

[9] Joanne, J. and Salop, S.. Self-Selection and Turnover in the Labor Market[J]. Quarterly Journal of Economics, 1976,90(4): 619-627

[10] Brickley J. A.. Empirical Research on CEO Turnover and Firm-performance: A Discussion[J]. Journal of Accounting & Economics, 2003,36(1): 227-233

[11] Furtado E.P. and Rozeff M. S.. The Wealth Effects of Company Initiated Management Changes[J]. Journal of Financial Economics, 1987,18(1): 147-160

[12] Worrell, D., Davidson, W. and Glascock, J.. Stockholder Reactions to Departures and Appointments of Key Executives Attributable to Firings. Academy of Management Journal , 1993, 36(2): 387-401

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