Herding Behaviour Inside the Board: an experimental approach
An experimental study was conducted to measure the impact of "herding behaviour" inside a board of directors based on the González (2002 PhD dissertation) theoretical model, which maintains that in a board meeting composed of a CEO and two external directors (A and B), where voting is sequential (CEO → A → B) and the directors' reputations are valuable, director B tends to copy director A's decision. Based on the observations made through the experiment, we confirm the presence of herding behaviour. Copyright (c) 2006 The Authors; Journal compilation (c) 2006 Blackwell Publishing Ltd.
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Volume (Year): 14 (2006)
Issue (Month): 5 (09)
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