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) industries of the firm. About 40% of firm-years in our sample have at least one DRI. We propose and test information, market … structure, and agency hypotheses about when DRIs are likely to add value. Consistent with the information hypothesis, DRIs are … present when the information gap is more severe, such as in innovative firms/industries and in firms with less informative …
Persistent link: https://www.econbiz.de/10013038623
Persistent link: https://www.econbiz.de/10010370783
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
Given the endogenous and contingent nature of firms' governance choices, it is not surprising that the results of prior studies investigating the association between board attributes and firm performance are mixed. In this paper, we exploit the presence of an exogenous shock represented in the...
Persistent link: https://www.econbiz.de/10012932267
This paper studies the effect on company performance of appointing non-executive directors that are also executive directors in other firms. The analysis is based on a new panel dataset of UK companies over 2002-2008. Our findings suggest a positive relationship between the presence of these...
Persistent link: https://www.econbiz.de/10010246653
We investigate the relationship between board independence and firm's long-term performance, as measured by Tobin's q. In a longitudinal sample of 1,143 firms in the S&P 1500 list from 1997 through 2006, we find some evidence of a significant nonlinear relationship. Two of three nonlinear models...
Persistent link: https://www.econbiz.de/10013108065
In this study, we investigated the relationships between board structure and financial performance, limited to nonfinancial firms listed on the Vietnam Stock Exchange. First, we found that a dual leadership structure, where the CEO and Chairman positions are held by the same person, was...
Persistent link: https://www.econbiz.de/10013058086
This paper studies the effect on company performance of appointing non-executive directors that are also executive directors in other firms. The analysis is based on a new panel dataset of UK companies over 2002-2008. Our findings suggest a positive relationship between the presence of these...
Persistent link: https://www.econbiz.de/10013058307
In an environment with poor quality of Corporate Governance Mechanisms, the quality of directors’ attributes might exert an important role to improve firm’s value and performance. I developed an index to explore the quality of Board of Directors based on Brazilian and international corporate...
Persistent link: https://www.econbiz.de/10014167726
capital markets process information and learn about the quality of incoming directors. The estimates suggest that upon the …
Persistent link: https://www.econbiz.de/10012904103