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Auswirkungen von Mehrfachmandaten deutscher Vorstands- und Aufsichtsratsvorsitzender auf den Unternehmenserfolg

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Author Info

  • Benjamin Balsmeier

    ()
    (Monopolkommission, Bonn)

  • Achim Buchwald

    ()
    (Monopolkommission, Bonn)

  • Heiko Peters

    ()
    (Sachverstaendigenrat zur Begutachtung der gesamtwirtschaftlichen Entwicklung)

Abstract

Members of management boards as well as supervisory boards often attract public criticism when they are simultaneously active in several other boards. We use a panel data set of the biggest German corporations for the period from 1996-2006 to estimate the impact of multiple board memberships of the CEO and the chairman of the supervisory board on corporate performance. The results suggest a positive and inverse U-shaped relation between the number of external supervisory board seats of the CEO and corporate performance. Chairmen of supervisory boards who simultaneously serve on external management boards tend to improve the performance of the controlled firm. Further external supervisory board seats of the chairman of a supervisory board do not seem to have any influence on corporate performance, though.

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Bibliographic Info

Article provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.

Volume (Year): 230 (2010)
Issue (Month): 5 (October)
Pages: 547-570

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Handle: RePEc:jns:jbstat:v:230:y:2010:i:5:p:547-570

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Related research

Keywords: Corporate governance; multiple board memberships; firm performance;

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References

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Citations

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Cited by:
  1. Vincenzo Verardi & Joachim Wagner, 2010. "Robust Estimation of Linear Fixed Effects Panel Data Models with an Application to the Exporter Productivity Premium," Working Paper Series in Economics 168, University of Lüneburg, Institute of Economics.
  2. Rieck, Christian & Bendig, Helena & Hünnemeyer, Julius & Nitzsche, Lisa, 2012. "Diversität im Aufsichtsrat: Studie über die Zusammensetzung deutscher Aufsichtsräte," Working Paper Series: Business and Law 01, Fachhochschule Frankfurt am Main - University of Applied Sciences, Faculty of Business and Law.
  3. Mishael Milakovic & Simone Alfarano & Thomas Lux, 2011. "The Small Core of the German Corporate Board Network: New Evidence from 2010," Kiel Working Papers 1740, Kiel Institute for the World Economy.

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