The DOI matches its Crossref record; 37 of the 38 references it cites were found in a registry or an index.
Classified boards, firm value, and managerial entrenchment
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Stock prices and top management changes
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Anderson, A. M., Brown, J. A., & Gupta, P. P. (2017) · International Journal of Disclosure and Governance · doi:10.1057/s41310-017-0029-4 · Cited by 1
“Additionally, they have been seen to invest less in R&D and increase CEO turnover (Faleye 2007, 2009).”
BackgroundTheoretical and Empirical Justification of Corporate Fraud
Li, L., & McMurray, A. (2022) · Springer eBooks · doi:10.1007/978-981-19-3667-8_3 · Cited by 1
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Li, X., Wu, D., & Wu, Y. (2024) · Accounting and Finance · doi:10.1111/acfi.13280 · Cited by 1
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“Moreover, general literature examines the wealth significance for the US corporations in both the short and long run based on whether they have a staggered board (Faleye, 2007).”
Inequality Grows in Silence: The Impact of Newspaper Closures on CEO-Worker Pay Disparity
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Nundhapana, N., Treepongkaruna, S., & Jiraporn, P. (2025) · Corporate Social Responsibility and Environmental Management · doi:10.1002/csr.3267 · Cited by 1
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Chen, S.-H., Wang, L.-H., & Jebran, K. (2025) · Asia Pacific Journal of Management · doi:10.1007/s10490-025-10059-9
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Godsell, D. (2026) · Review of accounting studies · doi:10.1007/s11142-026-09956-1
“…and predicts that entrenched managers will then extract private rents through overinvesting (empire building) or underinvesting (“the quiet life”) (Faleye 2007; Bebchuk and Cohen 2005; Gompers et al. 2003; Core et al. 2006; Grossman and Hart 1980; Hirshleifer and Thakor 1998; Jensen 1993; Macey…”
Classified Boards and Corporate Environmental and Social Performance
Hass, L., Loukopoulos, G., & Nazimuddin, N. N. B. (2026) · Corporate governance: An International Review · doi:10.1111/corg.70059 · Cited by 1
Measuring management insulation from shareholder pressure
Ferreira, D. H. D. M., Kershaw, D. S., Kirchmaier, T., & Schuster, E. (2016) · London School of Economics and Political Science Research Online (London School of Economics and Political Science) · Cited by 1
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Ertimur, Y., & Ferri, F. (2015) · Cited by 1
Kim, C., Kang, S., & Shim, H. (2018) · International Review of Finance · doi:10.1111/irfi.12205 · Cited by 1
“For example Mahoney and Mahoney (1993), Bebchuk et al. (2002), and Faleye (2007) show that classified boards diminish target shareholder value.”
BackgroundSTRUKTUR KEPEMILIKAN, CORPORATE GOVERNANCE, AGENCY COST, DAN KINERJA PERUSAHAAN
Putri, T. D. (2020) · Jurnal Menara Ekonomi Penelitian dan Kajian Ilmiah Bidang Ekonomi · doi:10.31869/me.v6i3.2179 · Cited by 1
Governança corporativa: uma análise da relação entre o turnover da administração e o desempenho
da Silva, B. S., da Silva, D. G., Avelino, B. C., & Bressan, V. G. F. (2020) · ForScience · doi:10.29069/forscience.2020v8n2.e772 · Cited by 1
Internal Factors: Organisational Culture and Governance
Li, L., & McMurray, A. (2022) · Springer eBooks · doi:10.1007/978-981-19-3667-8_9 · Cited by 1
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خيري, ي. م. ع. (2022) · Al-Maǧallaẗ Al-Miṣriyyaẗ Lil Dirāsāt Al-Tiǧāriyyaẗ /Al-Maǧallaẗ Al-Miṣriyyaẗ Lil Dirāsāt Al-Tiǧāriyyaẗ · doi:10.21608/alat.2022.267022 · Cited by 1
The fatter the tail, the shorter the sail
Alsunbul, S., Alzugaiby, B., Chaudhry, S. M., & Boujlil, R. (2023) · Accounting and Finance · doi:10.1111/acfi.13148 · Cited by 1
Which governance mechanisms matter for firm pollution?
Khan, S., & Wald, J. K. (2023) · The British Accounting Review · doi:10.1016/j.bar.2023.101297
Exploring the Role of Stock Liquidity in CEO Equity Compensation Design
Ekici, E., & Ruseva, M. Y. (2024) · Advances in management accounting · doi:10.1108/s1474-787120240000036001 · Cited by 1
Refreshing Boards: Countering CEO Entrenchment
Dah, M. A. (2024) · Research In International Business and Finance · doi:10.1016/j.ribaf.2024.102740 · Cited by 1
Board Declassification and Bargaining Power
Straska, M., & Waller, H. (2025) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2025.107490 · Cited by 1
“Faleye (2007) reports a negative announcement effect for firms adopting a classified board and a positive announcement effect for firms repealing the provision.”
BackgroundInfluentialLes mécanismes de défense anti-acquisition profitent-ils vraiment aux actionnaires?
Lemaître, C. N., & Redor, É. (2009) · Revue française de gestion · doi:10.3166/rfg.198-199.259-275 · Cited by 1
“Bien que selon Faleye (2006), l’échelonnement des élections du conseil d’administration n’a pas d’impact sur la rotation des administrateurs, il peut malgré tout favoriser un enracinement du conseil d’administration, ce qui pourrait diminuer significativement l’efficacité de la gouvernance (Sundaramurthy et al.”
BackgroundInfluentialThe Monitoring and Advisory Functions of Corporate Boards
Lahlou, I. (2018) · Springer eBooks · doi:10.1007/978-3-030-05017-7_3 · Cited by 1
Garrett, A. (2012) · Cited by 1
Board structure of immigrant-founder firms
James, H. L., Hsieh, C., & Wu, C. Y. (2017) · Journal of Multinational Financial Management · doi:10.1016/j.mulfin.2017.10.007 · Cited by 1
Management Entrenchment and Stock Option Backdating
Amoah, N., Bonaparte, I., Lamptey, E. K., & Kelly, M. (2020) · Emerald Group Publishing Limited eBooks · doi:10.1108/s1041-706020200000022001 · Cited by 1
Ivanov, V. I. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1787734 · Cited by 1
Defensive Strategies in Takeovers
Rauch, C., & Wahrenburg, M. (2011) · doi:10.1002/9781118258996.ch19 · Cited by 1
Does Price Fixing Benefit Corporate Managers?Preprint
González, T. A., Schmid, M., & Yermack, D. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2229573 · Cited by 1
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Jankensgård, H. (2015) · SSRN Electronic Journal · Cited by 1
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Salas, J. M. (2007) · SSRN Electronic Journal · doi:10.2139/ssrn.955930 · Cited by 1
Corporate governance and the nature of takeover resistancePreprint
Carline, N. F., Linn, S. C., & Yadav, P. (2014) · RePEc: Research Papers in Economics · Cited by 1
Xi, J. (2014) · RMIT Research Repository (RMIT University Library) · doi:10.25439/rmt.27354579 · Cited by 1
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Liskovich, I. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2765591 · Cited by 1
Optimal Timing of Management Turnover in Agency ConflictsPreprint
Hori, K., & Osano, H. (2006) · SSRN Electronic Journal · doi:10.2139/ssrn.942927 · Cited by 1
Diversity and performance: a case of board composition of firms on the Nigerian stock exchange
Okeyide, O. D. (2018) · UEA Digital Repository (University of East Anglia) · Cited by 1
Aboody, D., Even-Tov, O., & Zeng, J. (2021) · SSRN Electronic Journal · doi:10.2139/ssrn.3877384 · Cited by 1
“With respect to staggered board, several studies find a negative association between a staggered board and firm value (e.g., Mahoney and Mahoney, 1993; Bebchuk, Coates, and Subramanian, 2002a, 2002b; Bebchuk and Cohen, 2005; Faleye, 2007; Masulis, Wang, and Xie, 2007).”
Corporate Law, Economic Analysis of
Daines, R. M., & Klausner, M. D. (2008) · The New Palgrave Dictionary of Economics · doi:10.1057/978-1-349-95121-5_2643-1 · Cited by 1
The Economics of Corporate GovernancePreprint
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Zhang, J., Chae, S., & Lam, H. K. S. (2025) · SSRN Electronic Journal · doi:10.2139/ssrn.5378113 · Cited by 1
GROUPTHINK WITHIN BOARDS OF DIRECTORS
Timmermans, D. A. (2015)
Financing decision of Chinese listed companies: what are the main determinants
Ruan, W. (2011) · Research Online (University of Wollongong)
What Do Managers Do When Immune from Hostile Takeover Threats
Zheng, L., & Meng, R. (2008) · The HKU Scholars Hub (University of Hong Kong)
Explaining the Staggered Board DiscountPreprint
Afonso, E. L., & Wintoki, M. B. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1927471
Running to Stand Still: Dimensions of Firm Growth and GovernancePreprint
Balasubramanian, N., Dharwadkar, R., & Sivadasan, J. (2014) · SSRN Electronic Journal · doi:10.2139/ssrn.2469868
“…the managers with 2Note though that starting with Gompers et al (2003), a rich literature in finance and economics has documented a positive relationship between market value and the quality of corporate governance (e.g., Bebchuk & Cohen, 2005; Faleye, 2007; Bebchuk, Cohen, & Ferrell, 2009).”
BackgroundWei, C., & Yermack, D. (2009) · eCommons (Cornell University)
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Jiraporn, P., Davidson, W. N., & Chintrakarn, P. (2009) · SSRN Electronic Journal · doi:10.2139/ssrn.1480226
Essays on reverse leveraged buy-outs
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Goh, J. M., & Jung, J. (2014)
A Tide of Cash: Corporate Governance and the Management of Large Cash WindfallsPreprint
Jankensgård, H., & Andrén, N. (2014) · SSRN Electronic Journal · doi:10.2139/ssrn.2463605
“Faleye (2007) find that there are significant negative stock market reactions to announcements that a company will introduce a classified board.”
The Partisan Business Cycle and Firm Value: Toward Political Economy of Firm ValuationPreprint
Ulupinar, B., & Çamyar, İ. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1786962
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Chaudhuri, R., & Seo, H. (2010) · International journal of business and economics
The Impact of Founder-CEOs in Microbanks: A Global Survey
Mersland, R., Randøy, T., & Strøm, R. Ø. (2011)
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Zhang, X. (2010) · QSpace (Queen's University Library)
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González, M., Guzmán, A., Dávila, M. A. T., & Pombo, C. (2012) · RePEc: Research Papers in Economics
Governo das sociedades e gestão fiscal em Portugal
Pinto, S. P. L. (2014) · Portuguese National Funding Agency for Science, Research and Technology (RCAAP Project by FCT) · doi:10.34626/qprr-0449
Internal Capital Markets, Non-Cash Divestitures and Managerial IncentivesPreprint
Mazur, M. (2010) · SSRN Electronic Journal · doi:10.2139/ssrn.1692793
“diversified firms as numerous papers find evidence that the governance factors have a material impact on firm performance (see, e.g., Shivdasani and Yermack, 1999; Faleye, 2007).”
A Theory of Boardroom CollusionPreprint
Li, Z. F., & Wu, Z. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2241340
Chen, Y. (2010) · Minerva Access (University of Melbourne)
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Nöllgen, B., & Schwetzler, B. (2013) · SSRN Electronic Journal · doi:10.2139/ssrn.2364962
The Impact of Classified Boards on Firm Value : The New EvidencePreprint
Ahn, S., Hong, G., & Kim, D. (2011) · SSRN Electronic Journal
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Rutherford, J. (2010) · OakTrust (Texas A&M University Libraries)
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Tong, J. Y., Chen, S., Srinidhi, B. N., & Su, L. N. (2009) · SSRN Electronic Journal · doi:10.2139/ssrn.1361509
Antitakeover Provisions and Discretionary Accruals
이은서, 이만우, & Yu, S.-J. (2016) · Korea International Accounting Review · doi:10.21073/kiar.2016..66.009
Brigl, M., Kloppsteck, L., & Kümmerle, D. (2010)
Discretionary Environment and Earnings ManagementPreprint
Kheirollah, A. (2016) · SSRN Electronic Journal · doi:10.2139/ssrn.2784096
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Deng, X. (2012) · doi:10.32657/10356/48173
When are staggered boards beneficial?
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“If staggered boards weaken the threat of disciplinary removal (Pound, 1988; Bebchk et al., 2002) then they effectively enable managers to extract private benefits and exacerbate agency costs (Faleye, 2007).”
BackgroundInfluentialWalking the Walk: Selective Hedging and Inside OwnershipPreprint
Jankensgård, H. (2015) · SSRN Electronic Journal · doi:10.2139/ssrn.2662368
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HwangSunWung, & 신우용 (2015) · Korean Journal of Financial Engineering · doi:10.35527/kfedoi.2015.14.3.008
Who are the activists? Investor characteristics and corporate improvements
Davidkin, J. (2010) · Aaltodoc (Aalto University)
Pay Gap and PerformancePreprint
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“By contrast, if executive entrenchment is caused simply by upward pressure on executive compensation, the relationship between executive pay and performance can be negative if higher pay is not for higher talent (Shleifer and Vishny, 1989; Core et al., 1999; Faleye, 2007).”
BackgroundDoes Price Fixing Benefit Corporate Managers?Preprint
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Devos, E., Elliott, W., & Songur, H. (2014) · SSRN Electronic Journal
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Chen, X., & Ullah, S. (2018) · Journal of Corporate Accounting & Finance · doi:10.1002/jcaf.22342
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Martins, F. M. P. (2018) · DSpace@MIT (Massachusetts Institute of Technology)
Board, Firm Value, and Corporate Policies
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The Impact of Corporate Board Characteristics on Firm Value: A Literature Survey
Lahlou, I. (2018) · Springer eBooks · doi:10.1007/978-3-030-05017-7_1
CEO Equity Incentive and Antitakeover Provision
유소진, Lee, J., & 이은서 (2019) · Korea International Accounting Review · doi:10.21073/kiar.2019..83.010
Ghani, E. K., Mohamed, H. X., & Muhammad, K. (2019) · International Journal of Financial Research · doi:10.5430/ijfr.v10n3p116
How Does the Market React When Shareholders Lose Power?Preprint
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Stoilkovska, A., Gramatnikovski, S., & Serafimovic, G. (2019) · RePEc: Research Papers in Economics
How Are Foreign Firms Valued in U.S. Markets? Evidence from Firm and Country Characteristics
Song, X. (2019) · Accounting and Finance Research · doi:10.5430/afr.v8n4p101
“domestic firms and generally agreed that firms with smaller size, lower leverage ratio, and faster-growing trends are usually valued higher (Daines, 2001; Maury & Pajuste, 2005; Faleye, 2007; Brick & Chidambaran, 2010; Ammann, Oesch & Schmid, 2011).”
BackgroundMethodResultInfluentialReforming the Nigerian Oil and Gas Sector
Uzo-Peters, A. (2019) · Cambridge University Press eBooks · doi:10.1017/9781108658386.033
Metadata
- Authors
- Faleye, O.
- Affiliations
- Northeastern University (US)
- Corresponding author
- Faleye, Olubunmi
- ORCID
- Faleye, Olubunmi
- Venue
- Journal of Financial Economics
- Publisher
- Elsevier BV
- Published
- 2007-02
- Volume
- 83
- Issue
- 2
- Pages
- 501-529
- ISSN
- 0304-405X (ISSN-L)
- OpenAlex
- W2148416404
- Cited by
- 550
- References
- 38
- Citations by year
- 2026: 21 · 2025: 22 · 2024: 42 · 2023: 17 · 2022: 28 · 2021: 30 · 2020: 32 · 2019: 29 · 2018: 23 · 2017: 40 · 2016: 22 · 2015: 23 · 2014: 31 · 2013: 23 · 2012: 31
- FWCI
- 73.66
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Financial Economics (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Governance and Law
- Social Sciences › Business, Management and Accounting › Strategy and Management › Corporate Governance and Financial Management
- Keywords
- classified boards, firm value, managerial entrenchment, board accountability, CEO turnover, executive compensation, proxy contests, shareholder resolutions, market discipline, corporate governance
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