Muravyev, A., Talavera, O. and Weir, C. (2016) Performance effects of appointing other firms’ executive directors to corporate boards: an analysis of UK firms. Review of Quantitative Finance and Accounting, 46 (1). pp. 25-45. ISSN 0924-865X
Abstract
This paper studies the effect on company performance of appointing non-executive directors that are also executive directors in other firms. The analysis is based on a new panel dataset of UK companies over 2002–2008. Our findings suggest a positive relation between the presence of these non-executive directors and the accounting performance of the appointing companies. The effect is stronger if these directors are executive directors in firms that are performing well. We also find a positive effect when these non-executive directors are members of the audit committee. Overall, our results are broadly consistent with the view that non-executive directors that are executives in other firms contribute to both the monitoring and advisory functions of corporate boards.
Metadata
Item Type: | Article |
---|---|
Authors/Creators: |
|
Copyright, Publisher and Additional Information: | © 2014 Springer Science+Business Media New York. This is an author produced version of a paper subsequently published in Review of 'Quantitative Finance and Accounting'. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | executive directors; non-executive directors; company performance |
Dates: |
|
Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Management School (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 10 Mar 2016 11:53 |
Last Modified: | 10 Mar 2016 11:53 |
Published Version: | http://dx.doi.org/10.1007/s11156-014-0460-6 |
Status: | Published |
Refereed: | Yes |
Identification Number: | 10.1007/s11156-014-0460-6 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:95384 |