| Tekijä: | Gonzalez, M. Modernell, R. Paris, E. |
| Otsikko: | Herding behaviour inside the board: an experimental approach |
| Lehti: | Corporate governance
2006 : SEPTEMBER, VOL. 14:5, p. 388-405 |
| Asiasana: | board of directors |
| Vapaa asiasana: | herding behaviour |
| Kieli: | eng |
| Tiivistelmä: | Based on Gonzalez (2002 PhD dissertation) theoretical model, an experimental study was conducted to measure the impact of herding behaviour inside a board of directors. Gonzalez model states that in a board meeting composed of a CEO and two external directors (A and B), where voting is sequential and the directors' reputations are valuable, director B tends to copy director A's decision. The findings of this study confirm the presence of herding behaviour. |
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