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Motivated by agency theory, we explore the potential impact of managerial entrenchment through staggered boards on dividend policy. The evidence suggests that firms with staggered boards are more likely to pay dividends and pay them more generously than do those with unitary boards. We also show...
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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
PurposeWe investigate whether shareholders are convinced by earnings management. We also explore how board gender … gender diversity helps shareholders see through earnings management better. The presence of female directors significantly … weakens the extent to which shareholders are persuaded by earnings management.OriginalityOur study is the first to explore the …
Persistent link: https://www.econbiz.de/10012840035
We contribute to the debate on the costs and benefits of busy directors by investigating the effect of busy directors on firm value during a stressful time, i.e. during the Great Recession. Our results show that busy directors improve firm value significantly during the financial crisis. In...
Persistent link: https://www.econbiz.de/10012924951
Purpose: This study examines whether co-opted directors influence analysts' recommendations. As information intermediaries, financial analysts should incorporate the quality of corporate governance into their valuation because well-governed firms are associated with lower agency costs and better...
Persistent link: https://www.econbiz.de/10012830539
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We investigate the effects of ownership concentration and corporate governance on the extent of risk-taking in an important emerging economy- Thailand. Ownership in Thai firms are substantially more concentrated than that in developed economies, providing a unique opportunity to study the effect...
Persistent link: https://www.econbiz.de/10012871911