Similar Search Results

Value of Politically Connected Independent Directors : Evidence from the Anti-Corruption Campaign in China

Zhang, Chang - 2019

A new regulation issued in the end of 2013 as part of the anti-corruption campaign in China leads to a wave of resignation of politically connected independent directors (PCID). I find while firms with PCIDs have negative cumulative abnormal return (CAR) around release of the new regulation,...

Persistent link: https://www.econbiz.de/10012863739

ESG and Shareholder Value : The Role of Board Facial Impressions and Perceived Trustworthiness

Teoh, Siew Hong; Yan, Jiawen; Yoon, Aaron; Zuo, Luo - 2022

We propose that when firm agents, such as managers and employees, perceive the board to have congruent values about ESG activities with them, then they are more willing to commit their human capital and effort to the ESG activities to increase firm value. Potentially positive NPV ESG projects...

Persistent link: https://www.econbiz.de/10014238348

Reexamining Staggered Boards and Shareholder Value

Cohen, Alma; Wang, Charles C. Y. - 2017

Cohen and Wang (2013) (CW2013) provide evidence consistent with market participants perceiving staggered boards to be value reducing. Amihud and Stoyanov (2016) (AS2016) contests these findings, reporting some specifications under which the results are not statistically significant. We show that...

Persistent link: https://www.econbiz.de/10014120769

Litigation by Shareholders and Directors : An Empirical Study of the Statutory Derivative Action

Ramsay, Ian; Saunders, Benjamin - 2006

A statutory derivative action has been proposed for the United Kingdom and is contained in Part 11 of the Company Law Reform Bill. Australia has had a statutory derivative action for approximately 6 years. This paper outlines the results of the first empirical study of the Australian statutory...

Persistent link: https://www.econbiz.de/10014057143

Shareholders Should Welcome Employees as Directors

Osterloh, Margit; Frey, Bruno S. - 2005

The most influential theory of corporate governance, principal agency theory, does not take into consideration that the key task of modern corporations is to generate and transfer firm-specific knowledge. It proposes that, in order to overcome the widespread corporate scandals, the interests of...

Persistent link: https://www.econbiz.de/10014028422

ESG issues and career prospects of directors : evidence from the international director labor market

Colak, Gonul; Hickman, Kent A.; Korkeamaki, Timo P.; … - In: Financial markets, institutions & instruments 31 (2022) 4, pp. 147-203

Persistent link: https://www.econbiz.de/10013414317

Outside directors and CSR in Japan : the moderating effect of director shareholding and financial leverage

Toft, Andrea - In: The Kyoto economic review 88 (2022), pp. 1-33

This paper aims to extend earlier research on the relationship between corporate governance and corporate social responsibility (CSR) in the Japanese context. Using a sample of 125 Japanese companies listed on Tokyo Stock Exchange from 2010–2020, this paper investigates how outside directors...

Persistent link: https://www.econbiz.de/10013501027

Corporate Directors Learn From Environmental Shareholder Engagements

Bauer, Rob; Derwall, Jeroen; Tissen, Colin - 2022

We examine whether corporate directors learn from environmental engagements by studying the success and implementation of environmental shareholder proposals. We deem a proposal successful when the proposal sponsor withdrew it after negotiating with the target firm. Our results indicate that...

Persistent link: https://www.econbiz.de/10013307908

Corporate Governance : Creating Value for Stakeholders

Jhunjhunwala, Shital - 2023

Chapter 1 Corporate Governance: An Introduction -- Chapter 2 Boards and Directors -- Chapter 3 Theoretical Perspectives of Corporate Governance -- Chapter 4 Internal Control, Financial Oversight and Risk Management -- Chapter 5 Global Corporate Governance Movement -- Chapter 6 Shareholders and...

Persistent link: https://www.econbiz.de/10014318531

The role of board dynamics in explaining payout policy and shareholders' wealth : evidence from the banking sector in Africa

Ofori-Sasu, Daniel; Dzeha, Gloria Clarissa; Boachie, … - In: Research in globalization 5 (2022), pp. 1-10

creation at the market and bank levels. The study employs the 2SLS estimation of a panel dataset of 528 banks from 29 African … dynamics create market and bank-level wealth to shareholders. Further, payout policy reduces shareholders' wealth creation in … the market but increases bank-level wealth of shareholders. The study finds that payout policy can be utilized as a …

Persistent link: https://www.econbiz.de/10014330870