The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
The Supply of Corporate Directors and Board Independence
Open accessAbstract
Empirical evidence on the relations between board independence and board decisions and firm performance is generally confounded by serious endogeneity issues. We circumvent these endogeneity problems by demonstrating the strong impact of the local director labor market on board composition. Specifically, we show that proximity to larger pools of local director talent leads to more independent boards for all but the largest quartile of S&P1500. Using local director pools as an instrument for board independence, we document that board independence has a positive effect on firm value and operating performance and CEO fraction of incentive based pay and turnover.
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Citations
Cites
Corporate Governance and Equity Prices
Gompers, P., Ishii, J., & Metrick, A. (2003) · The Quarterly Journal of Economics · doi:10.1162/00335530360535162 · Cited by 6,120
Cited by
Shareholder democracy in play: Career consequences of proxy contests
Fos, V., & Tsoutsoura, M. (2014) · Journal of Financial Economics · doi:10.1016/j.jfineco.2014.07.009 · Cited by 159
Metadata
- Authors
- Knyazeva, A., Knyazeva, D., & Masulis, R. W.
- Venue
- Review of Financial Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2013-05-06
- Volume
- 26
- Issue
- 6
- Pages
- 1561-1605
- ISSN
- 0893-9454 (ISSN-L)
- 1465-7368
- OpenAlex
- W3122577803
- Cited by
- 678
- References
- 1
- FWCI
- 126.29
- Type
- journal article
- Language
- en
- Open access
- gold
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- Knyazeva, A., Knyazeva, D., & Masulis, R. W. (2013). The Supply of Corporate Directors and Board Independence. Review of Financial Studies. https://doi.org/10.1093/rfs/hht020
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
