Do Firms Adjust to a Target Board Structure ? ?

@inproceedings{Cicero2011DoFA,
  title={Do Firms Adjust to a Target Board Structure ? ?},
  author={David C. Cicero and M. B. Wintoki and T. Yang},
  year={2011}
}
We examine whether firms pursue target board structures. Using a broad panel from 1991–2003, we find that board changes are frequent, with two-thirds of firms changing board size or independence during a two-year period. Board changes are associated with changes in firm-specific fundamentals. The rate of change is positively associated with the benefits of effective boards and negatively associated with CEO influence. Firms change board characteristics in either direction as underlying firm… CONTINUE READING
11 Citations

Figures and Tables from this paper.

The impact of board size on firm performance: evidence from the UK
  • 485
  • PDF
Board Structure and Price Informativeness
  • 251
  • Highly Influenced
  • PDF
Corporate Governance and Diversification
  • 12
Corporate Governance, Accounting and Finance: A Review
  • 428

References

SHOWING 1-10 OF 40 REFERENCES
The Determinants of Board Structure
  • 1,434
  • Highly Influential
  • PDF
The Determinants of Board Composition
  • 1,455
  • Highly Influential
Determinants of the Size and Composition of US Corporate Boards: 1935-2000
  • 330
Ownership and Board Structures in Publicly Traded Corporations
  • 611
  • Highly Influential
Higher market valuation of companies with a small board of directors
  • 5,611
  • PDF
Larger board size and decreasing firm value in small firms 1 We wish to thank Asiakastieto Oy for fu
  • 1,991
  • Highly Influential
Determinants of Board Size and Composition: A Theory of Corporate Boards
  • 1,052
  • Highly Influential
  • PDF
Boards : Does one size fit all ?
  • 1,651
  • Highly Influential
  • PDF
Boards of directors, ownership, and regulation
  • 297
  • PDF