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Drawing on social exchange theory, the present study investigates the underlying mechanisms through which transformational leadership influences employee turnover. Leader–member exchange (LMX) and affective commitment (AC) are proposed as supervisor-based and organization-based social exchange mechanisms respectively, exemplifying how social exchange processes occur between an employee and his/her supervisor, and between the employee and his/her organization as a whole to underpin the effect of transformational leadership on turnover outcomes. Results of structural equation modeling on a sample of 490 full-time employees working in a large telecommunication company in the PRC provided support for the notion that transformational leadership is related to both social exchange mechanisms – LMX and AC – turnover intention and turnover behavior. Furthermore, the results revealed …