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On theoretical grounds, monitoring of top executives by the (supervisory) board is expected to be value relevant. The empirical evidence is ambiguous and we analyze three non-competing explanations for this ambiguity: (i) The positive effect on firm value of board monitoring is hidden in stock...
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ownership and supervisory board size, we do find significant entrenchments effects associated with ownership by managers …
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as a result of this globalization. We focus on direct and indirect American influence on the dismissal performance … hiring of American independent board members. Both sources of influence are hypothesized to result in increased dismissal … performance sensitivity. The empirical results show a significant increase in the dismissal sensitivity in poorly performing …
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