haku: @indexterm VALUATION / yhteensä: 677
viite: 157 / 677
| Tekijä: | Loderer, C. Peyer, U. |
| Otsikko: | Board Overlap, Seat Accumulation and Share Prices |
| Lehti: | European Financial Management
2002 : JUN, VOL. 8:2, p. 165-192 |
| Asiasana: | BOARD OF DIRECTORS COMPANIES VALUATION |
| Kieli: | eng |
| Tiivistelmä: | This paper examines board overlap-a phenomenon that occurs when one or more directors of a particular company sit also on the board of other companies. The authors examine possible reasons for this overlap, including that it enables managers to entrench themselves and helps them enforce collusive agreements. The authors also investigate whether it comes about as a means for banks to obtain new business or consolidate the existing one, and whether it occurs simply because good directors tend to attract more seats. The authors study companies listed in Switzerland in 1980-1995 and find a fair degree of board overlap. In 1990, for instance, the board of the average firm among the 25 largest companies overlapped with that of almost 50% of other large companies. |
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