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Monitoring managers: does it matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - 2010
with detailed 'hard' information about the board's performance expectations and 'soft' information about board and CEO … actions and the board's beliefs about CEO competence in 473 mostly private-sector companies backed by private equity funds … for making 'honest mistakes.' Following forced CEO turnover, companies see performance improvements and their investors …
Persistent link: https://www.econbiz.de/10010272503
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Do corporate boards affect firm performance? New evidence from the financial crisis
Francis, Bill; Hasan, Iftekhar; Wu, Qiang - Suomen Pankki - 2012
This study uses the current financial crisis as a quasi-experiment to examine whether and to what extent corporate boards affect the performance of firms. Using cumulative stock returns over the crisis to measure of firm performance, we find that board independence, as traditionally defined,...
Persistent link: https://www.econbiz.de/10010542073
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Methods for multicountry studies of corporate governance: Evidence from the BRIKT countries
Black, Bernard; Carvalho, Antonio Gledson de; Khanna, … - In: Journal of Econometrics 183 (2014) 2, pp. 230-240
We discuss empirical challenges in multicountry studies of the effects of firm-level corporate governance on firm value, focusing on emerging markets. We assess the severe data, “construct validity”, and endogeneity issues in these studies, propose methods to respond to those issues, and...
Persistent link: https://www.econbiz.de/10011077587
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Die Motivation von Arbeitnehmervertreterinnen und -vertretern zur Übernahme eines Aufsichtsratsmandats: Ein qualitativer Ansatz
Walther, Axel; Möltner, Hannah; Morner, Michèle - In: Industrielle Beziehungen 26 (2019) 1, pp. 63-88
Der Beitrag untersucht auf Basis der Selbstbestimmungstheorie, wie Einflussgrößen des sozialen Kontexts Arbeitnehmervertreter und Arbeitnehmervertreterinnen zur Übernahme eines Aufsichtsratsmandats motivieren. Die Analyse von 29 teilstrukturierten Interviews zeigt ein breites...
Persistent link: https://www.econbiz.de/10012543708
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Monitoring Managers: Does it Matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - C.E.P.R. Discussion Papers - 2009
with detailed ‘hard’ information about the board’s performance expectations and ‘soft’ information about board and CEO … actions and the board’s beliefs about CEO competence in 473 mostly private-sector companies backed by private equity funds … for making 'honest mistakes.' Following forced CEO turnover, companies see performance improvements and their investors …
Persistent link: https://www.econbiz.de/10008491717
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Monitoring Managers: Does it Matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - Fondazione ENI Enrico Mattei (FEEM) - 2010
with detailed ‘hard’ information about the board’s performance expectations and ‘soft’ information about board and CEO … actions and the board’s beliefs about CEO competence in 473 mostly private-sector companies backed by private equity funds … for making ‘honest mistakes.’ Following forced CEO turnover, companies see performance improvements and their investors …
Persistent link: https://www.econbiz.de/10008540409
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The Effectiveness of Corporate Boards: Evidence from Bank Loan Contracting
Francis, Bill; Hasan, Iftekhar; Koetter, Michael; Wu, Qiang - Center for Economic Institutions, Institute of Economic … - 2009
This paper investigates the role of corporate boards in bank loan contracting. We find that when corporate boards are more independent, both price and non-price loan terms (e.g., interest rates, collateral, covenants and performance pricing) are more favorable and syndicated loans comprise more...
Persistent link: https://www.econbiz.de/10008548298
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Monitoring managers: does it matter?
Cornelli, Francesca; Kominek, Zbigniew; Ljungqvist, … - European Bank for Reconstruction and Development (EBRD) - 2010
with detailed “hard” information about the board’s performance expectations and “soft” information about board and CEO … actions and the board’s beliefs about CEO competence in 473 mostly private sector companies backed by private equity funds … for making “honest mistakes”. Following forced CEO turnover, companies see performance improvements and their investors …
Persistent link: https://www.econbiz.de/10008552479
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Director Independence as Strategic Behavior
WAGNER, Alexander F. - 2007
behaves loyally to a CEO when it agrees to a negative NPV-project, giving the CEO private benefits. While the CEO benefits … easier to obtain from a less competent board. The model implies that shareholders face a tradeoff between higher CEO pay and …
Persistent link: https://www.econbiz.de/10005162986
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Do corporate boards affect firm performance? New evidence from the financial crisis
Francis, Bill; Hasan, Iftekhar; Wu, Qiang - 2012
This study uses the current financial crisis as a quasi-experiment to examine whether and to what extent corporate boards affect the performance of firms. Using cumulative stock returns over the crisis to measure of firm performance, we find that board independence, as traditionally defined,...
Persistent link: https://www.econbiz.de/10012148145