• DOI:10.1093/OXFORDJOURNALS.JLEO.A036883
Corpus ID: 154382612

Corporate Governance and the Board of Directors: Performance Effects of Changes in Board Composition

@article{Baysinger1985CorporateGA,
  title={Corporate Governance and the Board of Directors: Performance Effects of Changes in Board Composition},
  author={B. D. Baysinger and H. Butler},
  journal={Journal of Law Economics & Organization},
  year={1985},
  volume={1},
  pages={101-124}
}

B. D. Baysinger, H. Butler

Published 1985

Business

Journal of Law Economics & Organization

Recent advances in economic theory suggest that the board of directors is an important part of the governance structure of large business corporations (Fama and Jensen, 1983a; Williamson, 1983, 1984). The board of directors, which has the power to hire, fire, and compensate senior management teams, serves to resolve conflicts of interest among decisionmakers and residual risk bearers. This economizes the transaction (agency) costs associated with the separation (specialization) of ownership and… CONTINUE READING

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