This study examines the impacts of firm performance and mechanisms of corporate governance on CEO turnover by using a sample of 325 companies listed on the Chinese stock markets over the ten-year period 1997-2006. A negative relationship between CEO turnover and firm performance has been found in this study. For mechanisms of corporate governance, the proportion of independent directors is negatively associated with CEO turnover. Similarly, serving as the representative of the largest shareholder in the company significantly reduces the likelihood of CEO turnover, While CEO turnover is unrelated to whether CEOs are representatives of any other top ten largest shareholders. Moreover, neither CEOs’ shareholdings nor state shareholdings influence CEO turnover.
The aim of this research is to examine the importance of the nature and spatial dimension of knowledge sources on innovation of local firms in a cluster based on the regional innovation system approach. First, we introduce the "local buzz" and "global pipeline" argument. Second, we propose a conceptual framework incorporating two spatial dimensions of knowledge sources: local knowledge networks and global knowledge linkages, which include knowledge flows from inward foreign direct investment (FDI) to local firms as a part of global knowledge linkages. Third, we use qualitative analyses and firm survey data from a Guangzhou software cluster to show that global knowledge linkages and local knowledge networks are of similar importance to the innovation of local firms in a cluster, especially for local innovative firms. Customers, competitors, consultants and new personnel are the four most important knowledge sources to the innovation of local firms from both local knowledge networks and global knowledge linkages. The local firms with knowledge more from global knowledge linkages are more innovative. Finally, some policy implications, based on the research, are identified.