The Determinants of Board Structure

Linck, James S.; Netter, Jeffry M.; Yang, Tina

doi:10.2139/ssrn.729935

Cited by 201 publications

(162 citation statements)

References 39 publications

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“…The main reason for these differences is probably the increased regulatory pressure on listed companies to improve board independence. and Skully (2010) might partially be explained by differences between the samples, as bank holding companies are not subject to OCC regulations, and might also confirm their observation that the board size of medium and large banks is declining over time (Linck, Netter and Yang, 2008;Pathan and Skully, 2010).…”

Section: Corporate Governance Variablesmentioning

confidence: 77%

Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector

et al. 2013

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The nal publication is available at Springer via http://dx.doi.org/10.1007/s10551-013-1929-2.Additional information: Use policyThe full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-pro t purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. interests. Contrary to our expectations, CEO duality also impacts positively on CSR disclosure. From an agency-theoretical viewpoint, this suggests that powerful CEOs may promote transparency about banks' CSR activities for their private benefits. While this could indicate that powerful CEOs are under particular pressure to appease stakeholders' concerns that they might abuse their power by providing a high degree of CSR disclosure, it could also be a sign of managerial risk aversion or managers' private reputational concerns.

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Section: Corporate Governance Variablesmentioning

confidence: 77%

Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector

et al. 2013

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“…The fact that board size has a positive association with the presence of female and foreign directors suggests that an increase in the board size can be an option to diversify the composition of the board. Earlier studies suggest that board size has a negative association with the market valuation of a company (e.g., Yermack, 1996), but more recent studies indicate that the optimal board size depends on various business characteristics and that the reduction of the board size does not assure better company performance (e.g., Boone et al, 2007;Coles et al, 2008;Linck et al, 2008;Wintoki et al, 2012). For some companies, the benefit of diversifying the board composition may outweigh the cost of increasing the board members.…”

Section: Resultsmentioning

confidence: 99%

What Types of Companies Have Female and Foreign Directors?

Morikawa

2014

SSRN Journal

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This paper analyzes the determinants of the presence and the number of female and foreign directors among Japanese companies. First, listed and long-established companies, subsidiaries, and unionized companies tend not to have female directors. On the other hand, owner-managed companies are likely to have female directors and chief executive officers (CEOs). Company size and foreign shareholdings do not have significant relationships with the presence of female directors. Second, while some past studies in the United States and European countries find evidence of "tokenism," whereby female-led companies do not appoint additional females as directors, we do not find such evidence among Japanese companies. Third, while foreign-owned companies and companies engaged in overseas activities tend to have foreign directors, other company characteristics, such as size and listing status, do not have systematic relationships with the presence of foreign directors.

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“…Moreover, these studies (as well as ours) usually do not address the endogeneity of board characteristics (Hermalin and Weisbach, 2003). Studies analyzing the determinants of board characteristics often find that optimal board size and composition may vary across firms based on factors such as their growth opportunities, size, complexity, and CEO independence (Boone, Karpoff, and Raheja, 2007;Lehn, Patro, and Zhao, 2008;Link, Netter, and Yang, 2008;Coles, Daniel, and Naveen, 2008).…”

Section: The Determinants Of Pay-to-performancementioning

confidence: 92%

Executive Compensation

2011

Nonprofit Law for Colleges and Universities

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The Determinants of Board Structure

Cited by 201 publications

References 39 publications

Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector

Corporate Governance and Corporate Social Responsibility Disclosure: Evidence from the US Banking Sector

What Types of Companies Have Female and Foreign Directors?

Executive Compensation

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