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| Author: | Booth, J. Deli, D. |
| Title: | Factors affecting the number of outside directorships held by CEOs |
| Journal: | Journal of Financial Economics
1996 : JAN, VOL. 40:1, p. 81-104 |
| Index terms: | CHIEF EXECUTIVE OFFICERS ECONOMICS FINANCE |
| Language: | eng |
| Abstract: | The authors investigate factors affecting the number of outside directorships held by CEOs. CEOs of firms with growth opportunities hold fewer outside directorships than CEOs of firms consisting primarily of assets-in-place. They find evidence consistent with CEOs holding more outside directorships as they transfer decision rights to their eventual successors. And they also find that when employees of two different firms sit on each other's boards, CEOs hold more outside directorships, suggesting CEO participation bonds the relationship between the two firms. |
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