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| Tekijä: | Peasnell, K.V. Pope, P.F. Young, S. |
| Otsikko: | Managerial equity ownership and the demand for outside directors |
| Lehti: | European Financial Management
2003 : JUN, VOL. 9:2, p. 231-250 |
| Asiasana: | Board of directors Equities Managers Stock ownership |
| Kieli: | eng |
| Tiivistelmä: | The linkage between the use of outside directors and managerial ownership is examined. It is conjectured there are two linkages: 1) the standard incentive-alignment demand for monitoring when managers own little stock and 2) an entrenchment-amelioration demand when managerial stock ownership is high. Consequently, the association between managerial ownership and board composition is predicted to be nonlinear. |
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