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| Author: | Combs, J.G. (et al.) |
| Title: | The moderating effect of CEO power on the board composition-firm performance relationship |
| Journal: | Journal of Management Studies
2007 : DEC, VOL. 44:8, p. 1299-1323 |
| Index terms: | board of directors executives management company performance |
| Language: | eng |
| Abstract: | Using event study methodology, this study tests the effects of the interaction btw. board composition and CEO power on stock market reaction to 73 unexpected CEO deaths. There is support found for the theorizing among 2/3 sources of CEO power. Thus, although regulatory trends increasingly support outside director dominated boards, this study's findings indicate that this may not always benefit shareholders, and that CEO power should be considered when constructing boards. |
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