Freedom of choice between unitary and two-tier boards: an empirical analysis

@inproceedings{Belot2013FreedomOC,
  title={Freedom of choice between unitary and two-tier boards: an empirical analysis},
  author={François Belot and Edith Ginglinger and Myron B. Slovin and Marie Elizabeth Sushka},
  year={2013}
}
We examine board structure in France, which since 1966 has allowed firms freedom to choose between unitary and two-tier boards. We analyze how this choice relates to characteristics of the firm and its environment. Firms with severe asymmetric information tend to opt for unitary boards; firms with a potential for private benefits extraction tend to adopt two-tier boards. There is enhanced sensitivity of CEO turnover to performance at firms with two-tier boards, indicating greater monitoring… CONTINUE READING

Citations

Publications citing this paper.
SHOWING 1-10 OF 13 CITATIONS

CORPORATE GOVERNANCE IN FRANCE ( 2008-2016 )

Emilie Bonhoure, Laurent Germain
  • 2017
VIEW 1 EXCERPT
CITES BACKGROUND