CORPORATE GOVERNANCE AND CORPORATE ILLEGALITY: THE EFFECTS OF BOARD STRUCTURE ON ENVIRONMENTAL VIOLATIONS
This paper examined the effects of corporate governance structures on the incidence of corporate illegality by analyzing the relationship between environmental violations and several dimensions of corporate board structure. Results demonstrated that the value of stock owned by corporate officers and directors was positively and significantly associated with serious environmental violations. Outsider dominance, joint CEO‐Chairpersons, social responsibility committees, and attorneys on boards were not significantly related to corporate illegal behavior. The control variables of size, industry profitability, firm profitability, and industry concentration were all significantly related to environmental violations. The findings involving board structure cast doubt on the efficacy of many popular corporate governance reform proposals.
Year of publication: |
1999
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Authors: | McKendall, Marie ; Sánchez, Carol ; Sicilian, Paul |
Published in: |
The International Journal of Organizational Analysis. - MCB UP Ltd, ISSN 1055-3185, ZDB-ID 2221600-5. - Vol. 7.1999, 3, p. 201-223
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Publisher: |
MCB UP Ltd |
Saved in:
Online Resource
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