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| Tekijä: | Boone, A.L. (et al.) |
| Otsikko: | The determinants of corporate board size and composition: An empirical analysis |
| Lehti: | Journal of Financial Economics
2007 : JUL, VOL. 85:1, p. 66-101 |
| Asiasana: | board of directors executives initial public offerings industries companies USA |
| Kieli: | eng |
| Tiivistelmä: | Based on a unique panel dataset tracking corporate board development from a firm's initial public offering (IPO) through 10 years later, it is found that: i. board size (here as: b-s.) and independence (as: b-i.) increase as firms grow and diversify over time, ii. b-s. - but not b-i. - reflects a tradeoff btw. the firm-specific benefits and costs of monitoring, and iii. b-i. is negatively related to the manager's influence and positively related to constraints. These results indicate that economic considerations help explain cross-sectional variation in corporate b-s. and composition etc. |
SCIMA