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| Author: | Rutherford, M.A. Buchholtz, A.K. |
| Title: | Investigating the relationship between board characteristics and board information |
| Journal: | Corporate governance
2007 : JUL, VOL. 15:4, p. 576-584 |
| Index terms: | board of directors chief executive officers management corporate governance information demography theories |
| Language: | eng |
| Abstract: | This paper examines the relationship btw. boards' (henceforth as: brd/s.) demographic characteristics and brds.' information (as: info) collecting behaviour. Using primary and secondary data from 149 firms, it is found that an increase in the proportion of outside directors (as: o-dirs.) on a brd. is associated with an increase in brds.' info quality and proactive info seeking. In addition, an increase in o-dirs. tenure is associated with brds.' more frequent exchange of info. Consistent with agency theory predictions, these findings suggest that vigilant brds. are likely to take actions aimed at reducing the level of info asymmetry btw. them and their CEOs. |
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