Powered by OpenAIRE graph
Found an issue? Give us feedback
image/svg+xml art designer at PLoS, modified by Wikipedia users Nina, Beao, JakobVoss, and AnonMoos Open Access logo, converted into svg, designed by PLoS. This version with transparent background. http://commons.wikimedia.org/wiki/File:Open_Access_logo_PLoS_white.svg art designer at PLoS, modified by Wikipedia users Nina, Beao, JakobVoss, and AnonMoos http://www.plos.org/ Liriasarrow_drop_down
image/svg+xml art designer at PLoS, modified by Wikipedia users Nina, Beao, JakobVoss, and AnonMoos Open Access logo, converted into svg, designed by PLoS. This version with transparent background. http://commons.wikimedia.org/wiki/File:Open_Access_logo_PLoS_white.svg art designer at PLoS, modified by Wikipedia users Nina, Beao, JakobVoss, and AnonMoos http://www.plos.org/
Lirias
Report . 2011
Data sources: Lirias
Research Papers in Economics
Preprint . 2011
Full-Text: https://www.econstor.eu/bitstream/10419/48601/1/663925657.pdf
Data sources: Research Papers in Economics
EconStor
Research . 2011
Data sources: EconStor
 View all 3 versions
Claim

Outside board memberships of CEOs: Expertise of entrenchment?

descriptionPublicationkeyboard_double_arrow_right Report , Research , Preprint 01 Jan 2011 Belgium Publisher:Düsseldorf Institute for Competition Economics
Authors: Balsmeier, Benjamin; Buchwald, Achim; Peters, Heiko;

handle: 10419/48601

Outside board memberships of CEOs: Expertise of entrenchment?

Abstract

We investigate whether outside board memberships of CEOs signal expertise or entrenchment. The analysis is based on panel data of the largest German companies covering the period from 1996 to 2008. Supporting the entrenchment hypothesis, our analysis reveals that firms having a CEO with one or more outside mandates suffer from significantly weaker firm performance compared with firms having a CEO without any outside board mandates. Moreover, disciplinary CEO turnovers become less likely and turnover-performance sensitivity declines with rising board memberships of the top manager. We conclude that outside mandates enhance managerial power at the expense of the home firm's shareholders.

Country
Belgium
Related Organizations
Keywords

L25, corporate governance, J24, Aufsichtsrat, Führungskräfte, Corporate Governance, entrenchment, CEO turnover, Corporate Governance,Entrenchment,Outside Board Memberships,CEO turnover, M50, Unternehmensentwicklung, Deutschland, ddc:330, Entrenchment, Arbeitsmobilität, Outside Board Memberships, J63, Vorstand, outside board memberships, Schätzung, jel: jel:J63, jel: jel:J24, jel: jel:L25, jel: jel:M50

  • BIP!
    Impact byBIP!
    selected citations
    These citations are derived from selected sources.
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    		 0
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    		 Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    		 Average
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    		 Average
Powered by OpenAIRE graph
Found an issue? Give us feedback
selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
Green