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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
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Staggered Boards, Accounting Discretion, and Firm Value
Jiraporn, Pornsit - 2010
Motivated by agency theory, this study investigates how staggered boards influence accounting discretion. The results indicate that staggered boards do affect accounting discretion. In fact, the impact of staggered boards on accounting discretion is substantially larger (about seven times...
Persistent link: https://www.econbiz.de/10013137651
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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
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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
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Estimating the Effect of Board Independence on Managerial Ownership Using a Quasi-Natural Experiment
Nimmanunta, Kridsda - 2017
Grounded in agency theory, this paper investigates the effect of board independence on managerial ownership. We exploit the passage of the Sarbanes-Oxley Act and the associated exchange listing requirements as an exogenous regulatory shock that raises board independence. Our...
Persistent link: https://www.econbiz.de/10012942295
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How Do Independent Directors View Powerful CEOs? Evidence from a Quasi-Natural Experiment
Jiraporn, Pornsit - 2015
Prior research shows that powerful CEOs can exacerbate the agency conflict, resulting in adverse corporate outcomes. Exploiting an exogenous shock introduced by the passage of the Sarbanes-Oxley Act, we explore whether board independence mitigates CEO power. Based on difference-in-difference...
Persistent link: https://www.econbiz.de/10013009860
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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
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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
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Staggered Boards, Managerial Entrenchment, and Dividend Policy
Jiraporn, Pornsit; Chintrakarn, Pandej - 2009
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...
Persistent link: https://www.econbiz.de/10014209569
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Boards, Audit Committees, Earnings Management and Shareholder Returns in MBO's
Davidson, Wallace N. - 2011
We relate the agency issues inherent in management buyouts and in earnings management. Income-reducing earnings management occurs prior to management buyouts. When insiders own small amounts of stock, outside monitoring mechanisms such as institutional ownership and Big Six audit firms reduce...
Persistent link: https://www.econbiz.de/10013122548