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The effects of board size and ‘busy’ directors on the market value of Italian companies

Author Info

  • Roberto Di Pietra

    ()

  • Christos Grambovas

    ()

  • Ivana Raonic

    ()

  • Angelo Riccaboni

    ()

Abstract

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File URL: http://hdl.handle.net/10.1007/s10997-008-9044-y
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Article provided by Springer in its journal Journal of Management & Governance.

Volume (Year): 12 (2008)
Issue (Month): 1 (March)
Pages: 73-91

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Handle: RePEc:kap:jmgtgv:v:12:y:2008:i:1:p:73-91
Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=102940

Keywords: Accounting valuation; Corporate governance; Board-of-directors’ size; Number of directorships; ‘Busy’ directors;

References listed on IDEAS
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  1. Denis, David J. & Sarin, Atulya, 1999. "Ownership and board structures in publicly traded corporations," Journal of Financial Economics, Elsevier, vol. 52(2), pages 187-223, May.
  2. RAFAEL LaPORTA & FLORENCIO LOPEZ-de-SILANES & ANDREI SHLEIFER & ROBERT W. VISHNY, . "Legal Determinants of External Finance,"," CRSP working papers 324, Center for Research in Security Prices, Graduate School of Business, University of Chicago.
  3. Brunello, Giorgio & Graziano, Clara & Parigi, Bruno, 2001. "Executive compensation and firm performance in Italy," International Journal of Industrial Organization, Elsevier, vol. 19(1-2), pages 133-161, January.
  4. Jiraporn, Pornsit & Davidson III, Wallace N. & DaDalt, Peter & Ning, Yixi, 2009. "Too busy to show up? An analysis of directors' absences," The Quarterly Review of Economics and Finance, Elsevier, vol. 49(3), pages 1159-1171, August.
  5. Cotter, James F. & Shivdasani, Anil & Zenner, Marc, 1997. "Do independent directors enhance target shareholder wealth during tender offers?," Journal of Financial Economics, Elsevier, vol. 43(2), pages 195-218, February.
  6. Volpin, Paolo, 2002. "Governance with Poor Investor Protection: Evidence from Top Executive Turnover in Italy," CEPR Discussion Papers 3229, C.E.P.R. Discussion Papers.
  7. Eliezer M. Fich & Anil Shivdasani, 2006. "Are Busy Boards Effective Monitors?," Journal of Finance, American Finance Association, vol. 61(2), pages 689-724, 04.
  8. Fama, Eugene F & Jensen, Michael C, 1983. "Separation of Ownership and Control," Journal of Law and Economics, University of Chicago Press, vol. 26(2), pages 301-25, June.
  9. Richardson, Scott & Tuna, A. Irem & Wysocki, Peter D., 2003. "Accounting for Taste: Board Member Preferences and Corporate Policy Choices," Working papers 4307-03, Massachusetts Institute of Technology (MIT), Sloan School of Management.
  10. Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
  11. Benjamin E. Hermalin & Michael S. Weisbach, 2003. "Boards of directors as an endogenously determined institution: a survey of the economic literature," Economic Policy Review, Federal Reserve Bank of New York, issue Apr, pages 7-26.
  12. Yermack, David, 1996. "Higher market valuation of companies with a small board of directors," Journal of Financial Economics, Elsevier, vol. 40(2), pages 185-211, February.
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Cited by:

  1. Hayam Wahba, 2014. "Capital structure, managerial ownership and firm performance: evidence from Egypt," Journal of Management and Governance, Springer, vol. 18(4), pages 1041-1061, November.
  2. Andrea Calabrò & Mariateresa Torchia & Francesco Ranalli, 2013. "Ownership and control in local public utilities: the Italian case," Journal of Management and Governance, Springer, vol. 17(4), pages 835-862, November.
  3. Romilda Mazzotta & Stefania Veltri, 2014. "The relationship between corporate governance and the cost of equity capital. Evidence from the Italian stock exchange," Journal of Management and Governance, Springer, vol. 18(2), pages 419-448, May.
  4. Marco Allegrini & Giulio Greco, 2013. "Corporate boards, audit committees and voluntary disclosure: evidence from Italian Listed Companies," Journal of Management and Governance, Springer, vol. 17(1), pages 187-216, February.
  5. Drago, Carlo & Millo, Francesco & Ricciuti, Roberto & Santella, Paolo, 2014. "Corporate Governance Reforms, Interlocking Directorship and Company Performance in Italy," MPRA Paper 59217, University Library of Munich, Germany.
  6. Giulio Greco, 2011. "Determinants of board and audit committee meeting frequency: Evidence from Italian companies," Managerial Auditing Journal, Emerald Group Publishing, vol. 26(3), pages 208-229, March.
  7. Marcello Martinez & Mark Jamison & Malin Tillmar, 2013. "Public utilities corporate governance," Journal of Management and Governance, Springer, vol. 17(4), pages 827-833, November.
  8. Patrick Velte, 2010. "The link between supervisory board reporting and firm performance in Germany and Austria," European Journal of Law and Economics, Springer, vol. 29(3), pages 295-331, June.
  9. Sofia Larmou & Nikos Vafeas, 2010. "The relation between board size and firm performance in firms with a history of poor operating performance," Journal of Management and Governance, Springer, vol. 14(1), pages 61-85, February.
  10. Andrea Melis & Silvia Carta & Silvia Gaia, 2012. "Executive remuneration in blockholder-dominated firms. How do Italian firms use stock options?," Journal of Management and Governance, Springer, vol. 16(3), pages 511-541, August.
  11. Emiliano Carlo, 2014. "Pyramids and the separation between direction and control of non-financial Italian family companies," Journal of Management and Governance, Springer, vol. 18(3), pages 835-872, August.

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