New Evidence on the Market for Directors: Board Membership and Pennsylvania Senate Bill 1310

Journal of Finance

Volumn 58, Issue 1, 2003, Pages 197-230

  Coles, Jeffrey L ^a   Hoi, Chun Keung ^b  

^a ARIZONA STATE UNIVERSITY   (United States)

^b ROCHESTER INSTITUTE OF TECHNOLOGY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0142157026     PISSN: 00221082     EISSN: None     Source Type: Journal    
DOI: 10.1111/1540-6261.00522     Document Type: Review

References (28)

1. Bizjak, John M., James A. Brickley, and Jeffrey L. Coles, 1993, Stock-based incentive compensation, asymmetric information, and investment behavior, Journal of Accounting and Economics 16, 349-372.
2. Blackwell, David W., James A. Brickley, and Michael Weisbach, 1994, Accounting information and internal performance evaluation: Evidence from Texas banks, Journal of Accounting and Economics 17, 331-358.
3. Booth, James R., and Daniel N. Deli, 1996, Factors affecting the number of outside directorships held by CEOs, Journal of Financial Economics 40, 81-104.
4. Brickley, James A., Jeffrey L. Coles, and James Linck, 1999, What happens to CEOs after they retire? Evidence on career concerns and CEO incentives, Journal of Financial Economics 52, 341-377.
5. Brickley, James A., Jeffrey L. Coles, and James Linck, 2000, Does the decision to retain retiring executives on the board of directors help to control agency problems in American and Japanese firms? Chapter 8 in Capital Markets, Banking, and Corporate Finance (Macmillan Press).
6. Brickley, James A., Jeffrey L. Coles, and Rory L. Terry, 1994, Outside directors and the adoption of poison pills, Journal of Financial Economics 35, 371-390.
7. Byrd, John, and Kent Hickman, 1992, Do outside directors monitor managers? Evidence from tender offer bids, Journal of Financial Economics 32, 195-221.
8. Byrne, John A., 1996, And you thought CEOs were overpaid, Business Week, August 26, Number 3490, 34.
9. Cannella, Albert A., Donald R. Fraser, and D. Scott Lee, 1995, Firm failure and managerial labor markets: Evidence from Texas banking, Journal of Financial Economics 38, 185-210.
10. Chordia, Tarun, and David Hirshleifer, 1992, Managerial incentives and project resolution, Working paper, Indiana University.
11. Coughlan, Anne T., and Ronald M. Schmidt, 1985, Executive compensation, management turnover, and firm performance: An empirical investigation, Journal of Accounting and Economics 7, 43-66.
12. Denis, David J., and Diane K. Denis, 1995, Performance changes following top management dismissals, Journal of Finance 50, 1029-1057.
13. Fama, Eugene F., and Michael C. Jensen, 1983, Separation of ownership and control, Journal of Law and Economics 26, 301-325.
14. Gilson, Stuart, 1989, Management turnover and financial distress, Journal of Financial Economics 25, 241-262.
15. Gilson, Stuart, 1990, Bankruptcy, boards, banks, and blockholders, Journal of Financial Economics 27, 355-387.
16. Hermalin, Benjamin E., and Michael S. Weisbach, 1988, The determinants of board composition, RAND Journal of Economics 19, 589-606.
17. Herman, Edward, 1989, Corporate Control, Corporate Power (Cambridge University Press, New York).
18. Janjigian, Vahan, and Emery A. Trahan, 1996, An analysis of the decisions to opt out of Pennsylvania Senate Bill 1310, Journal of Financial Research 19, 1-19.
19. Kaplan, Steven, 1989, The effects of management buyouts on operations and value, Journal of Financial Economics 24, 217-264.
20. Kaplan, Steven, and David Reishus, 1990, Outside directorships and firm performance, Journal of Financial Economics 27, 389-410.
21. Karpoff, Jonathan M., and Paul H. Malatesta, 1989, The wealth effects of second generation state takeover legislation, Journal of Financial Economics 25, 291-322.
22. Klein, April, and James Rosenfeld, 1988, Targeted share repurchases and top management changes, Journal of Financial Economics 20, 493-506.
23. Mace, Myles, 1986, Directors: Myth and Reality (Harvard Business School Press, Boston, MA).
24. Swartz, L. Mick, 1996, The 1990 Pennsylvania antitakeover law: Should firms opt out of antitakeover legislation? Journal of Accounting, Auditing & Finance 11, 223-246.
25. Szewczyk, Samuel H., and George P. Tsetsekos, 1992, State intervention in the market for corporate control: The case of Pennsylvania Senate Bill 1310, Journal of Financial Economics 31, 3-23.
26. Wahal, Sunil, Kenneth W. Wiles, and Marc Zenner, 1995, Who opts out of state antitakeover protection? The case of Pennsylvania's SB 1310, Financial Management 24, 22-39.
27. Warner, Jerold B., Ross L. Watts, and Karen H. Wruck, 1988, Stock prices and top management changes, Journal of Financial Economics 20, 461-492.
28. Weisbach, Michael, 1988, Outside directors and CEO turnover, Journal of Financial Economics 20, 431-460.