IDEAS home Printed from https://ideas.repec.org/a/bla/corgov/v7y1999i4p385-396.html
   My bibliography  Save this article

The Impact of Board Changes on Shareholder Wealth: some UK evidence

Author

Listed:
  • Alan Fox
  • Kwaku Opong

Abstract

This paper examines the impact of the entry and exit of board of directors on the share price of United Kingdom listed firms. Unlike previous studies in the area, this study distinguishes between the different type of board changes. The results of the study suggest that changes in the composition of management boards affect shareholders wealth. Small but significant positive abnormal returns are experienced on the day of the announcement. The results also indicate that the informational effects of new appointments are perceived differently by the market from resignations from the management board.

Suggested Citation

  • Alan Fox & Kwaku Opong, 1999. "The Impact of Board Changes on Shareholder Wealth: some UK evidence," Corporate Governance: An International Review, Wiley Blackwell, vol. 7(4), pages 385-396, October.
    • Handle: RePEc:bla:corgov:v:7:y:1999:i:4:p:385-396
    DOI: 10.1111/1467-8683.00169
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/1467-8683.00169
    Download Restriction: no
    File URL: https://libkey.io/10.1111/1467-8683.00169?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Les Coleman, 2012. "Testing equity market efficiency around terrorist attacks," Applied Economics, Taylor & Francis Journals, vol. 44(31), pages 4087-4099, November.
    2. Luechinger, Simon & Moser, Christoph, 2020. "The European Commission and the revolving door," European Economic Review, Elsevier, vol. 127(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:corgov:v:7:y:1999:i:4:p:385-396. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0964-8410&site=1 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.