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Does Board Gender Diversity Matter? Evidence From Hostile Takeover Vulnerability
Chatjuthamard, Pattanaporn; Jiraporn, Pornsit; Lee, … - 2021
mechanism, may substitute for internal governance. Consistent with this notion, using a novel measure of takeover vulnerability … primarily based on state legislation, we investigate the effect of the takeover market on board characteristics with special … emphasis on board gender diversity.Design/methodology/approach – We exploit a novel measure of takeover vulnerability based on …
Persistent link: https://www.econbiz.de/10013239732
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Corporate Governance in the UK : Is the Comply or Explain Approach Working?
Arcot, Sridhar - 2010
We examine the effectiveness of the "Comply or Explain" approach to corporate governance in the UK. Using a unique database of 245 non-financial companies for the period 1998-2004, we find an increasing trend of compliance with the Combined Code, but a frequent use of standard explanations in...
Persistent link: https://www.econbiz.de/10013149417
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The Joint-Stock Company is Not King : Legal Form Affects the Performance of the Company
Dudycz, Tadeusz - 2021
The choice of legal form affects many aspects of the company's operation and is one of the key decisions that an entrepreneur must make. In this article, we conduct a comparative analysis of six legal forms of companies in terms of efficiency, indebtedness, growth and risk. Based on 72,596...
Persistent link: https://www.econbiz.de/10013238266
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Do Corporations Learn from Mispricing? Evidence from Takeovers and Corporate Performance
Adra, Samer; Barbopoulos, Leonidas G. - 2021
In this article we form the simple prediction that mispricing encourages traders to collect costly information that guides managerial decisions at corporate level. Our findings support this prediction based on evidence derived from both the US market for corporate control and the overall...
Persistent link: https://www.econbiz.de/10013240066
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Ownership Concentration, Board Characteristics and Performance : Evidence from Jordan
Jaafar, Aziz; El Shawa, Mahmoud - 2009
In this paper, we examine the effects of ownership concentration and board characteristics on the performance of listed firms domiciled in Jordan, one of the main emerging markets in the Middle East. Employing 2SLS regressions on a sample of 103 firms listed on the Amman Stock Exchange for...
Persistent link: https://www.econbiz.de/10014208594
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Female Directors, Board Committees, and Firm Performance : Time-Series Evidence from Turkey
Ararat, Melsa - 2019
We study the relationship between female representation on boards and firm value and profitability in Turkey from 2011 to 2018, relying on hand-collected data covering the vast majority of listed firms. We build several proxies of female representation on boards and find no evidence that female...
Persistent link: https://www.econbiz.de/10012859477
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Does the Mandatory Adoption of Outside Directors Improve Firm Performance?
Tsukioka, Yasutomo - 2018
This paper examines the economic consequences of the introduction of regulations that mandate listed firms adopt outside directors. The Japanese Companies Act was revised in June 2014, and this revision required listed firms to adopt at least one outside director. Although half of the listed...
Persistent link: https://www.econbiz.de/10012914019
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CEO Duality and Firm Performance : Evidence from an Exogenous Shock to the Competitive Environment
Yang, Tina - 2016
Regulators and governance activists are pressuring firms to abolish CEO duality (the Chief Executive Officer is also the Chairman of the Board). However, the literature provides mixed evidence on the relation between CEO duality and firm performance. Using the exogenous shock of the 1989...
Persistent link: https://www.econbiz.de/10013007819
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Board Independence and Firm Performance in China
Liu, Yu - 2014
We provide the first comprehensive and robust evidence on the relationship between board independence and firm performance in China. We find that independent directors have an overall positive effect on firm operating performance in China. Our findings are robust to a battery of tests, including...
Persistent link: https://www.econbiz.de/10013040554
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Busy Analysts and Firm Monitoring
Kini, Omesh - 2020
Consistent with the view that “busy” analysts face time and effort constraints in monitoring firms, we find that higher busyness lowers firm valuation. The underlying mechanisms include lower operating performance, higher cost of capital, greater earnings management, excessive CEO...
Persistent link: https://www.econbiz.de/10012834629