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Cited by 473

The DOI matches its Crossref record; 20 of the 20 references it cites were found in a registry or an index.

Board Composition, Managerial Ownership, and Firm Performance: An Empirical Analysis

Open access
Barnhart, Scott W., Rosenstein, Stuart·1998·Financial Review
DOI 10.1111/j.1540-6288.1998.tb01393.x
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Abstract

Our objective is to examine the sensitivity of simultaneous equations techniques in corporate governance research. We model Tobin's Q, board composition, and managerial ownership using a three‐equation instrumental variables approach, with two specifications and four instruments. We find that the variables are jointly determined. However, results depend strongly on the specification of the model and the instruments. We conclude that results using simultaneous equations methods must be interpreted cautiously, OLS estimates should not be casually dismissed, and that sensitivity analysis is essential when estimating an empirical model whose structure is uncertain.

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Metadata

Authors
Barnhart, S. W., & Rosenstein, S.
Venue
Financial Review
Publisher
Wiley
Published
1998-11
Volume
33
Issue
4
Pages
1-16
ISSN
  • 0732-8516 (ISSN-L)
  • 1540-6288
DOI
10.1111/j.1540-6288.1998.tb01393.x
OpenAlex
W2054817230
Cited by
473
References
20
FWCI
5.38
Type
journal article
Language
en
Open access
green

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Barnhart, S. W., & Rosenstein, S. (1998). Board Composition, Managerial Ownership, and Firm Performance: An Empirical Analysis. Financial Review. https://doi.org/10.1111/j.1540-6288.1998.tb01393.x

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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.