The DOI matches its Crossref record.
Corporate governance and the bankrupt firm: An empirical assessment
Abstract
The incidence of bankruptcy has risen dramatically among firms of all types and sizes in the past decade. Little is known, however, about the effects of alternative governance structures on the propensity of an organization to file Chapter 11 bankruptcy. Relying on logistic regression for periods 5 years and 3 years prior to the bankruptcy, as well as the contemporaneous period, we examine the relationships among independent/interdependent board composition and the structure of CEO/board chairperson positions and the filing of bankruptcy. While controlling for a series of financial indicators and firm size, the results illustrate robust explanatory power for the governance variables for both lagged periods.
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“However, these studies were conducted on non-financial firms, and to the best of our knowledge, CG has not been examined before as a non-financial predictor of the failure of US banks.”
From Bank failure prediction: corporate governance and financial indicators (2023) · cites this paper as Daily and Dalton 1994
In the citing paper
“Daily and Dalton (1994) study the characteristics of failed banks and find that less board independence and more CEO duality show significant association with failure at three years before the bankruptcy event.”
From Bank failure prediction: corporate governance and financial indicators (2023) · cites this paper as Daily and Dalton 1994
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Cited by
Sorted by citations
Bank failure prediction: corporate governance and financial indicators
Alzayed, N., Eskandari, R., & Yazdifar, H. (2023) · Review of Quantitative Finance and Accounting · doi:10.1007/s11156-023-01158-z · Cited by 23
Metadata
- Authors
- Daily, C. M., & Dalton, D. R.
- Affiliations
- The Ohio State University (US)
- Indiana University Bloomington (US)
- Venue
- Strategic Management Journal
- Publisher
- Wiley
- Published
- 1994-10
- Volume
- 15
- Issue
- 8
- Pages
- 643-654
- ISSN
- 0143-2095 (ISSN-L)
- 1097-0266
- OpenAlex
- W2074156049
- Cited by
- 340
- References
- 0
- Citations by year
- 2026: 4 · 2025: 13 · 2024: 12 · 2023: 10 · 2022: 12 · 2021: 13 · 2020: 23 · 2019: 15 · 2018: 12 · 2017: 18 · 2016: 10 · 2015: 16 · 2014: 24 · 2013: 19 · 2012: 13
- FWCI
- 17.42
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Strategic Management Journal (publishedVersion)
- Topics
- Social Sciences › Law › Corporate Insolvency and Governance
- Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Social Sciences › Business, Management and Accounting › Accounting › Financial Distress and Bankruptcy Prediction
- Keywords
- corporate governance, bankruptcy, Chapter 11 bankruptcy, board independence, board composition, CEO duality, governance structures, business failure
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