Abstract
This paper examines how CEO characteristics affect board structure through structural estimation. I find a negative relation between board independence and CEO ability. This relation is strong when CEO ability is low, but it is weak on average. Further, when I restrict CEO ability to be the only CEO characteristic that can cause variation in board independence, the standard deviation of board independence in the simulated sample is less than 50% of its empirical counterpart. These results explain the reasons for the insignificant relation between board independence and CEO ability within a regression framework.
| Original language | English |
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| DOIs | |
| Publication status | Published - Oct 2014 |
| Event | 2014 Financial Management Association Annual Meeting - Nashville, United States Duration: 15 Oct 2014 → 18 Oct 2014 https://www.fma.org/past-programs |
Conference
| Conference | 2014 Financial Management Association Annual Meeting |
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| Abbreviated title | 2014 FMA Annual Meeting |
| Place | United States |
| City | Nashville |
| Period | 15/10/14 → 18/10/14 |
| Internet address |
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