Leadership structure : Separating the CEO and Chairman of the Board

  title={Leadership structure : Separating the CEO and Chairman of the Board},
  author={James A. Brickley and John Coles and Gregg Jarrell},
  • James A. Brickley, John Coles, Gregg Jarrell
  • Published 2004
Shareholder activists and regulators are pressuring U.S. firms to separate the titles of CEO and Chairman of the Board. They argue that separating the titles will reduce agency costs in corporations and improve performance. The existing empirical evidence appears to support this view. We argue that this separation has potential costs, as well as potential benefits. In contrast to most of the previous empirical work, our evidence suggests that the costs of separation are larger than the benefits… CONTINUE READING
Highly Influential
This paper has highly influenced 23 other papers. REVIEW HIGHLY INFLUENTIAL CITATIONS


Publications citing this paper.
Showing 1-10 of 233 extracted citations

Corporate Governance and Accounting Performance : A Balanced Scorecard Approach

Mona A. Elbannan, Mohamed A. Elbannan
View 8 Excerpts
Highly Influenced

Performance and corporate governance in microfinance institutions

Roy Mersland
View 5 Excerpts
Highly Influenced


Publications referenced by this paper.
Showing 1-10 of 33 references

Corporate control and bank efficiency

S. G. Timme
Accounting and Economics • 1993
View 4 Excerpts
Highly Influenced

The takeover market, corporate board composition, and ownership

J. A. Brickley, C. M. James
Strategic Management Journal • 1987
View 7 Excerpts
Highly Influenced

CEO duality and firm performance : What ' s the fuss ?

B. R. Baliga, R. C. Moyer, R. S. Rao
Strategic Management Journal • 1996
View 3 Excerpts
Highly Influenced

Composition and CEO duality in boards of directors : An international perspective

D. Dalton, I. Kesner
Journal of International Business Studies • 1987
View 1 Excerpt
Highly Influenced

mance: An empirical investigation

I. Kesner
Journal of Accounting and Economics • 1987
View 1 Excerpt
Highly Influenced

Corporate performance and managerial remuneration: An empirical analysis

J. A. Brickley
Journal of Corporate Finance • 1997

Corporate voting: Evidence from charter amendment

J. A. Brickley, R. C. Lease, C. W. Smith
amendments. Journal of Financial Economics • 1994
View 2 Excerpts