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| Author: | Kaplan, S. N. Reishus, D. |
| Title: | Outside directorships and corporate performance |
| Journal: | Journal of Financial Economics
1991 : OCT, VOL. 27:2, p. 389-410 |
| Index terms: | COMPANY PERFORMANCE TOP MANAGEMENT CHIEF EXECUTIVE OFFICERS DIVIDENDS BOARD OF DIRECTORS |
| Language: | eng |
| Abstract: | The relation between a company's performance and its top executives' service on other boards of directors is investigated. Using dividend cuts to measure performance, it is found that top executives of companies that reduce their dividends are approximately 50 percent less likely to receive additional outside directorships than are top executives of companies that do not reduce their dividends. The probability that top executives will resign from or lose outside directorships they already hold is negatively, but not significantly, related to the performance of their own firms. |
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