Changements de dirigeants et richesse des actionnaires : une analyse explicative multivariée 1

摘要: This paper investigates french market reactions to annou n- cements of top managers successions over the period 1988-1992. The impact is examined from two different pers- pectives : 1) in relation type change (the predecessor's depar- ture may be forced or not and successor an insider outsider) ; 2) context which succession takes place (this through three main variables company's size, its per- formance, degree homoge- neity industrial sector). me- thodology used t he multiple linear regression with interactive effects.