The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Trends in Corporate Governance
Open accessAbstract
The popular press and scholarly studies have noted a number of trends in corporate governance. This article addresses, from a theoretical perspective, whether these trends are linked. And, if so, how? The article finds that a trend toward greater board diligence will lead, sometimes through subtle or indirect mechanisms, to trends toward more external candidates becoming CEO, shorter tenures for CEOs, more effort/less perquisite consumption by CEOs (even though such behavior is not directly monitored), and greater CEO compensation. An additional prediction is that, under plausible conditions, externally hired CEOs should have shorter tenures, on average, than internally hired CEOs.
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Citations
Cites
Managerial Incentive Problems: A Dynamic Perspective
Holmstrom, B. (1999) · Review of Economic Studies · doi:10.1111/1467-937x.00083 · Cited by 3,172
Cited by
Frydman, C., & Jenter, D. (2010) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-120209-133958 · Cited by 542
Executive Pay, Hidden Compensation and Managerial Entrenchment
Kuhnen, C. M., & Zwiebel, J. H. (2007) · doi:10.2139/ssrn.972622 · Cited by 116
Delistings and the costs of governance: a study of European stock exchanges 1996–2004
Thomsen, S., & Vinten, F. (2014) · Journal of Management & Governance · doi:10.1007/s10997-013-9256-7 · Cited by 40
Metadata
- Authors
- HERMALIN, B. E.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2005-09-16
- Volume
- 60
- Issue
- 5
- Pages
- 2351-2384
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3125947162
- Cited by
- 548
- References
- 1
- FWCI
- 123.70
- Type
- journal article
- Language
- en
- Open access
- green
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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.
