Environmental Jolts, Board Governance Practices and Firm Value: Evidence from the 2008 Financial Crisis

@inproceedings{Toledo2013EnvironmentalJB,
  title={Environmental Jolts, Board Governance Practices and Firm Value: Evidence from the 2008 Financial Crisis},
  author={Eloisa Perez de Toledo and Pilar Gir{\'a}ldez-Puig and Jos{\'e} M. Ram{\'i}rez Hurtado},
  year={2013}
}
Environmental jolts are temporary disruptions that cause a hostile transformation in the level of resources available in a given system. Using the 2008 financial crisis as a moderator factor in the relationship between board structure and firm value, we assess if there is any change in board governance practices as a result of firms adaptation to the changes caused by the jolt. Our data is composed by 101 Spanish publicly traded firms for the period between 2003 and 2010. The Spanish governance… CONTINUE READING