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How Does Delaware Incorporation Affect the Board of Directors?

Jiraporn, Pornsit - 2012

This study investigates the impact of Delaware law on the composition and size of the board of directors. Our empirical evidence reveals that Delaware firms have smaller and more independent boards than their non-Delaware counterparts. Given that we find no value-premium for firms that...

Persistent link: https://www.econbiz.de/10013116753

Board Characteristics and Chinese Bank Performance

Liang, Qi - 2013

Using a sample of 50 largest Chinese banks during the period of 2003-2010, we explore a comprehensive set of board characteristics (size, composition and functioning of the board) and analyze their impacts on bank performance and bank asset quality in China. We find that the number of board...

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

The Effect of Entrenched Boards on Corporate Risk-Taking : Testing the Quiet Life Hypothesis

Chintrakarn, Pandej - 2013

The quiet life hypothesis posits that entrenched managers are well-insulated from removal and thus prefer to enjoy a quiet life, i.e. they tend to be less ambitious, avoid difficult decisions, and engage in less risk-taking (Bertrand and Mullainathan, 2003). We utilize the staggered board (or...

Persistent link: https://www.econbiz.de/10013085944

Corporate Diversification, Managerial Ownership, and Firm Value : Evidence from the Thai Financial Crisis

Charoenwong, Charlie - 2013

This study investigates whether corporate diversification in Thailand led to value creation or destruction. The evidence shows that, like studies in developed countries, companies listed on the Stock Exchange of Thailand (SET), on average, experience a value loss of more than 10% through their...

Persistent link: https://www.econbiz.de/10013093774

How Do Powerful CEOs View Dividends and Stock Repurchases? Evidence from the CEO Pay Slice (CPS)

Chintrakarn, Pandej - 2018

Agency theory suggests that CEOs view dividends unfavorably because dividend payouts deprive them of the free cash flow they could otherwise exploit. Using Bebchuk, Cremers, and Peyer's (2011) CEO pay slice (CPS) to measure CEO power, we find that an increase in CEO power by one standard...

Persistent link: https://www.econbiz.de/10012926278

The Effect of Corporate Governance on Stock Liquidity : The Case of Thailand

Prommin, Panu - 2013

Grounded in agency theory, this study explores the effect of corporate governance on equity liquidity in Thailand. Theory suggests that effective governance enhances financial and operational transparency, which in turn, reduces adverse selection. Facing less adverse selection problems, traders...

Persistent link: https://www.econbiz.de/10013075839

Does board gender diversity reduce "CEO luck"?

Viput Ongsakul; Anutchanat Jaroenjitrkam; Sirimon … - In: Accounting and finance 62 (2022) 1, pp. 243-260

Persistent link: https://www.econbiz.de/10013166397

The Effect of Political Risk on Shareholder Value and the Mitigating Role of Corporate Social Responsibility (CSR)

Chatjuthamard, Pattanaporn - 2020

We investigate the effect of political risk on shareholder value, using an event study and a novel measure of firm-level political risk recently developed by Hassan et al. (2019). We exploit the guilty plea of Jack Abramoff, a well-known lobbyist, on January 3, 2006, as an exogenous shock that...

Persistent link: https://www.econbiz.de/10012836597

The Effect of Earnings Management on Shareholder Value and the Role of Board Gender Diversity : Evidence from Terrorism

Ongsakul, Viput - 2020

PurposeWe investigate whether shareholders are convinced by earnings management. We also explore how board gender … diversity (the presence of female directors on the board) may influence the extent to which shareholders are convinced by … in convincing shareholders. Additional analysis corroborates the results, including propensity score matching …

Persistent link: https://www.econbiz.de/10012840035

Does Board Independence Substitute for External Audit Quality? Evidence from an Exogenous Regulatory Shock

Chintrakarn, Pandej - 2017

Exploiting the passage of the Sarbanes-Oxley Act (SOX) as an exogenous regulatory shock, we investigate whether board independence substitutes for external audit quality. Based on over 14,000 observation across 18 years, our difference-in-difference estimates show that firms forced to raise...

Persistent link: https://www.econbiz.de/10012957532