von Meyerinck, Felix; Oesch, David; Schmid, Markus - School of Finance, Universität St. Gallen - 2012
We investigate whether investor reactions to the announcement of a new outside director appointment significantly … depend on the director’s experience in the appointing firm’s industry. We use a sample of 385 outside directors appointed to … director with industry experience exhibit economically and statistically significantly higher announcement re-turns than …