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| Author: | Whidbee, D. |
| Title: | Board composition and control of shareholder voting rights in the banking industry |
| Journal: | Financial Management
1997 : WINTER, VOL. 26:4, p. 27-41 |
| Index terms: | BANKING SHAREHOLDERS VOTING |
| Language: | eng |
| Abstract: | This study examines the board of directors in 190 publicly traded bank holding companies and finds that board composition reflects the ownership structure of the firm. Outside director board membership is greater when institutional investors and independent outside directors own a substantial share of a firm's equity. Outside director board membership is lower when the CEO owns more of a firm's equity. This suggests that outside investors gain control over internal control mechanisms as their share of equity increases but have less control when the CEO owns more of a firm's equity. |
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