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Capital Structure, CEO Dominance, and Corporate Performance

Jiraporn, Pornsit - 2011

addition, we find that the impact of changes in capital structure on firm performance is more negative for firms with more …

Persistent link: https://www.econbiz.de/10013127772

Board Characteristics and Chinese Bank Performance

Liang, Qi - 2013

characteristics (size, composition and functioning of the board) and analyze their impacts on bank performance and bank asset quality … positive impacts on both bank performance and asset quality while bank size has a significantly negative impact on bank … performance. We find new evidence that the degree of bank boards' political connection is negatively correlated with bank …

Persistent link: https://www.econbiz.de/10013083271

The Effect of CEO Luck on the Informativeness of Stock Prices : Do Lucky CEOS Improve Stock Price Informativeness?

Chintrakarn, Pandej - 2013

CEOs are “lucky” when they are granted stock options on days when the stock price is lowest in the month of the grant, implying opportunistic timing and severe agency problems (Bebchuck, Grinstein, and Peyer, 2010). Using idiosyncratic volatility as our measure of stock price...

Persistent link: https://www.econbiz.de/10013072852

The Causal Effect of Religious Piety on Shareholder Wealth : Evidence from Acquirer Returns and Historical Religious Identification

Chintrakarn, Pandej - 2015

Prior research shows that religion promotes honesty. Honesty in turn motivates managers to view an expropriation from shareholders as self-serving, opportunistic, and unethical, thereby alleviating the agency conflict. Religious piety is thus expected to discourage agency-driven acquisitions...

Persistent link: https://www.econbiz.de/10013009377

Using Geographic Density of Firms to Identify the Effect of Board Size on Firm Value and Corporate Policies

Chintrakarn, Pandej - 2019

Prior research shows that firms tend to recruit directors from the geographically-proximate area. Due to a limited supply of qualified individuals in a given area, firms located in close proximity have to share a limited pool of talented individuals. As a result, the larger the number of firms...

Persistent link: https://www.econbiz.de/10012862139

The Effect of Staggered Boards on Analyst Recommendations : How Do Financial Analysts View Staggered Boards?

Withisuphakorn, Pradit - 2015

Staggered boards (or classified boards) constitute one of the most controversial governance provisions. A fierce debate continues on the costs and benefits of staggered boards. We contribute to the debate by investigating how financial analysts view staggered boards. It has been argued that...

Persistent link: https://www.econbiz.de/10013024713

Using Demographic Identification to Estimate the Effect of Board Size on Corporate Performance

Chintrakarn, Pandej - 2016

Motivated by agency theory, we investigate the effect of board size on corporate outcomes. To address endogeneity, we exploit the variations in the director-age populations across the states in the U.S. We argue that firms with access to a larger pool of potential directors tend to have larger...

Persistent link: https://www.econbiz.de/10012984689

Does Board Gender Diversity Matter? Evidence From Hostile Takeover Vulnerability

Chatjuthamard, Pattanaporn; Jiraporn, Pornsit; Lee, … - 2021

Purpose – Theory suggests that the market for corporate control, which constitutes an important external governance mechanism, may substitute for internal governance. Consistent with this notion, using a novel measure of takeover vulnerability primarily based on state legislation, we...

Persistent link: https://www.econbiz.de/10013239732

The Effect of Corporate Governance on CEO Luck : Evidence from the Institutional Shareholder Services (ISS)

Chintrakarn, Pandej - 2013

CEOs are “lucky” when they receive stock option grants on days when the stock price is the lowest in the month of the grant, implying opportunistic timing. Extending the work of Bebchuk, Grinstein, Peyer (2010), we explore the effect of overall corporate governance quality on CEO luck....

Persistent link: https://www.econbiz.de/10013080819

The Effect of CEO Power on the Informativeness of Stock Prices : An Empirical Note

Withisuphakorn, Pradit - 2015

Motivated by agency theory, we explore how powerful CEOs influence the extent of stock price informativeness. Using idiosyncratic volatility to measure stock price informativeness, we find that firms with more powerful CEOs experience a more opaque information environment. This is consistent...

Persistent link: https://www.econbiz.de/10013029449