Determinants of the Size and Structure of Corporate Boards: 1935-2000

  title={Determinants of the Size and Structure of Corporate Boards: 1935-2000},
  author={K. Lehn and Sukesh Patro and Mengxin Zhao},
  • K. Lehn, Sukesh Patro, Mengxin Zhao
  • Published 2003
  • Business
  • We argue that the size and composition of corporate boards are determined by tradeoffs involving the information that directors bring to boards versus the coordination costs and free rider problems associated with their additions to boards. Our hypotheses lead to predictions that firm size and growth opportunities are important determinants of these board characteristics. Using a sample of 82 U.S. firms that survived over the period of 1935 through 2000, we find strong support for the… CONTINUE READING
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