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Goergen, Marc - 2019

We analyze the relation between insider trading and the networks of executive and non-executive directors in UK listed companies. While most existing studies focus on firm-specific private information, we find that non-firm-specific information - such as information on other companies and...

Persistent link: https://www.econbiz.de/10012898524

Beauty and Appearance in Corporate Director Elections

Geiler, Philipp - 2017

We study the role of facial appearance in corporate director (re-)elections by means of director photographs published in annual reports. We find that shareholders use inferences from facial appearance in corporate elections, as a better (higher rated) appearance measure of a director reduces...

Persistent link: https://www.econbiz.de/10012945481

Waiting Out Storms in the Absence; Outside Directors' Selective Attendance at Board Meetings

Yang, Dong Ryung - 2017

This paper documents board meeting attendance rates of outside directors at Korean public companies depending on meeting agenda. By investigating 128,288 agendas brought to board meetings from 2011 and 2014, I find that outside directors show significantly higher absence rate for agendas bearing...

Persistent link: https://www.econbiz.de/10012968169

Mitigating the Impact of Managerial Anchoring : The Case for Management by Committee for Major Corporate Financial Decisions

Chia-Hsing, Huang - 2017

can be better off using two or more managers when managerial anchoring can lead to significant cost increases. This paper … anchoring costs if managers anchor in different directions. It is also shown that firms cannot completely eliminate the impact … of anchoring even if they hire an infinite number of managers. Firms should consider hiring additional managers in …

Persistent link: https://www.econbiz.de/10012971587

Australian Evidence on CEO Option Grants

Canil, Jean - 2016

We test the option incentive models of Hall and Murphy (2000, 2002) and Choe (2003). Hall and Murphy (2000, 2002) posit optimal grant size and exercise price contingent on the executive's levels of risk aversion and private diversification. Choe (2003) relates these choices to firm...

Persistent link: https://www.econbiz.de/10013004543

Executives' Horizon, Internal Governance and Stock Market Liquidity

Jain, Pawan - 2016

In this article, we examine whether internal governance, the process through which subordinate managers effectively … managers. Our results are robust to inclusion of conventional governance measures, alternative model specifications, and …

Persistent link: https://www.econbiz.de/10013008502

The Consequences of Managerial Indiscretions : Sex, Lies, and Firm Value

Cline, Brandon N. - 2016

Personal managerial indiscretions are separate from a firm's business activities but provide information about the manager's integrity. Consequently, they could affect counterparties' trust in the firm and the firm's value and operations. We find that companies of accused executives experience...

Persistent link: https://www.econbiz.de/10013008929

Performance Effects of Appointing Other Firms' Executive Directors to Corporate Boards : An Analysis of UK Firms

Muravyev, Alexander - 2014

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

Powerful CEOS and Corporate Governance : Evidence from an Analysis of CEO and Director Turnover after Fraud

Johnson, William C. - 2014

In this paper, we investigate the consequences of fraud for CEOs and whether these consequences depend on CEO power. We find that CEO power can reduce the likelihood of director turnover as well as CEO turnover after fraud detection. Further, we find that CEO power is negatively related to...

Persistent link: https://www.econbiz.de/10013046275

CEO to the Rescue : Residential Proximity of Private Firm CEOs and the Evolution of Corporate Profitability

Kim, Woojin - 2018

private business groups, we find that the top managers move closer to the headquarters when the profitability of the firms has …

Persistent link: https://www.econbiz.de/10012934988