메뉴 건너뛰기




Volumn 41, Issue 2, 2006, Pages 176-197

Ownership, board structure, and performance in continental Europe

Author keywords

International corporate governance; Profitability

Indexed keywords


EID: 33744535913     PISSN: 00207063     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.intacc.2006.04.002     Document Type: Article
Times cited : (111)

References (58)
  • 3
    • 0042780791 scopus 로고    scopus 로고
    • The effect of international institutional factors on properties of accounting earnings
    • Ball R., Kothari S.P., and Robin A. The effect of international institutional factors on properties of accounting earnings. Journal of Accounting and Economics 29 1 (2000) 1-51
    • (2000) Journal of Accounting and Economics , vol.29 , Issue.1 , pp. 1-51
    • Ball, R.1    Kothari, S.P.2    Robin, A.3
  • 4
    • 77958406983 scopus 로고
    • Corporate governance and the board of directors: Performance effects of changes in board composition
    • Baysinger B., and Butler H.N. Corporate governance and the board of directors: Performance effects of changes in board composition. Journal of Law, Economics, & Organization 1 (1985) 101-104
    • (1985) Journal of Law, Economics, & Organization , vol.1 , pp. 101-104
    • Baysinger, B.1    Butler, H.N.2
  • 5
    • 0000452198 scopus 로고
    • Effects of board and ownership structure on corporate R&D strategy
    • Baysinger B.D., Kosnik R.D., and Turk T.A. Effects of board and ownership structure on corporate R&D strategy. Academy of Management Journal 34 (1991) 205-214
    • (1991) Academy of Management Journal , vol.34 , pp. 205-214
    • Baysinger, B.D.1    Kosnik, R.D.2    Turk, T.A.3
  • 6
    • 0002367445 scopus 로고
    • CEO and board chairman: A quantitative study of dual vs. unitary board leadership
    • Spring
    • Berg S.V., and Smith S.K. CEO and board chairman: A quantitative study of dual vs. unitary board leadership. Directors and boards (1978), Spring 34-39
    • (1978) Directors and boards , pp. 34-39
    • Berg, S.V.1    Smith, S.K.2
  • 8
    • 0037702976 scopus 로고    scopus 로고
    • Board independence and long-term form performance
    • Bhagat S., and Black B. Board independence and long-term form performance. Journal of Corporation Law 27 (2001)
    • (2001) Journal of Corporation Law , vol.27
    • Bhagat, S.1    Black, B.2
  • 9
    • 0347038860 scopus 로고    scopus 로고
    • Director's ownership, corporate performance and management turnover
    • Bhagat S.D., and Carey C.E. Director's ownership, corporate performance and management turnover. The Business Lawyer 54 (1999) 885-919
    • (1999) The Business Lawyer , vol.54 , pp. 885-919
    • Bhagat, S.D.1    Carey, C.E.2
  • 10
    • 0000239228 scopus 로고
    • Voting power in the proxy process: The case of anti-takeover charter amendments
    • Bhagat S., and Jefferis R.H. Voting power in the proxy process: The case of anti-takeover charter amendments. Journal of Financial Economics 30 (1991) 193-225
    • (1991) Journal of Financial Economics , vol.30 , pp. 193-225
    • Bhagat, S.1    Jefferis, R.H.2
  • 11
    • 0002503595 scopus 로고
    • Foreign stock listing: Benefits, costs, and the accounting policy dilemma
    • Biddle G.C., and Saudagaran S.M. Foreign stock listing: Benefits, costs, and the accounting policy dilemma. Accounting Horizons 5 3 (1991) 69-80
    • (1991) Accounting Horizons , vol.5 , Issue.3 , pp. 69-80
    • Biddle, G.C.1    Saudagaran, S.M.2
  • 12
    • 0000119713 scopus 로고
    • Agents watching agents: The promise of institutional investor voice
    • Black B. Agents watching agents: The promise of institutional investor voice. UCLA Law Review 39 (1992) 811-893
    • (1992) UCLA Law Review , vol.39 , pp. 811-893
    • Black, B.1
  • 13
    • 0039592455 scopus 로고
    • The value of institutional investors monitoring: The empirical evidence
    • Black B. The value of institutional investors monitoring: The empirical evidence. UCLA Law Review 39 (1992) 895-939
    • (1992) UCLA Law Review , vol.39 , pp. 895-939
    • Black, B.1
  • 14
    • 0001310174 scopus 로고
    • Hail Britania? Institutional investor behavior under limited regulation
    • Black B., and Coffee L.C. Hail Britania? Institutional investor behavior under limited regulation. Michigan Law Review 92 (1994) 1997-2087
    • (1994) Michigan Law Review , vol.92 , pp. 1997-2087
    • Black, B.1    Coffee, L.C.2
  • 16
    • 0031161696 scopus 로고    scopus 로고
    • Leadership structure: Separating CEO and chairman of the board
    • Brickley J.A., and Coles J.L. Leadership structure: Separating CEO and chairman of the board. Journal of Corporate Finance 3 (1997) 189-220
    • (1997) Journal of Corporate Finance , vol.3 , pp. 189-220
    • Brickley, J.A.1    Coles, J.L.2
  • 17
    • 84985206494 scopus 로고
    • Coping with international accounting diversity: Fund managers' view on disclosure, reconciliation and harmonization
    • Bushman G., and Lessard D.R. Coping with international accounting diversity: Fund managers' view on disclosure, reconciliation and harmonization. Journal of International Financial Management and Accounting 4 2 (1992) 149-165
    • (1992) Journal of International Financial Management and Accounting , vol.4 , Issue.2 , pp. 149-165
    • Bushman, G.1    Lessard, D.R.2
  • 18
    • 33744506698 scopus 로고    scopus 로고
    • Bushman, R. M. & Smith, A. J. (2001). Financial accounting information and corporate governance. www.ssrn.com.
  • 19
    • 0000106797 scopus 로고
    • Do outside directors monitor managers? Evidence from tender offer bids
    • Byrd J.W., and Hickman K.A. Do outside directors monitor managers? Evidence from tender offer bids. Journal of Financial Economics 32 (1992) 195-222
    • (1992) Journal of Financial Economics , vol.32 , pp. 195-222
    • Byrd, J.W.1    Hickman, K.A.2
  • 20
    • 0031633952 scopus 로고    scopus 로고
    • Ownership structure, investment, and the corporate value. An empirical analysis
    • Cho M.-H. Ownership structure, investment, and the corporate value. An empirical analysis. Journal of Financial Economics 47 (1998) 103-121
    • (1998) Journal of Financial Economics , vol.47 , pp. 103-121
    • Cho, M.-H.1
  • 21
    • 0001763518 scopus 로고
    • The structure of the ownership and the theory of the firm
    • Demsetz H. The structure of the ownership and the theory of the firm. Journal of Law & Economics 26 (1983) 375-390
    • (1983) Journal of Law & Economics , vol.26 , pp. 375-390
    • Demsetz, H.1
  • 22
    • 84935941592 scopus 로고
    • The structure of corporate ownership: Causes and consequences
    • Demsetz H., and Lehn K. The structure of corporate ownership: Causes and consequences. Journal of Political Economy 93 61 (1985) 1155-1177
    • (1985) Journal of Political Economy , vol.93 , Issue.61 , pp. 1155-1177
    • Demsetz, H.1    Lehn, K.2
  • 23
    • 33744524168 scopus 로고    scopus 로고
    • Demsetz, H. & Villalonga, B. (2001). Ownership structure and corporate performance. Working paper. UCLA.
  • 24
    • 0000498358 scopus 로고    scopus 로고
    • Ownership and board structure in publicly traded corporations
    • Denis D.J., and Sarin A. Ownership and board structure in publicly traded corporations. Journal of Financial Economics 52 (1999) 187-223
    • (1999) Journal of Financial Economics , vol.52 , pp. 187-223
    • Denis, D.J.1    Sarin, A.2
  • 25
    • 0001668345 scopus 로고
    • The Ethereal hand: Organizational economics and management theory
    • Donaldson L. The Ethereal hand: Organizational economics and management theory. Academy of Management Review 15 (1990) 369-381
    • (1990) Academy of Management Review , vol.15 , pp. 369-381
    • Donaldson, L.1
  • 26
    • 84990587870 scopus 로고
    • Boards and company performance: Research challenges the conventional wisdom
    • Donaldson L., and Davis J.H. Boards and company performance: Research challenges the conventional wisdom. Corporate Governance: International Review 2 3 (1994) 151-160
    • (1994) Corporate Governance: International Review , vol.2 , Issue.3 , pp. 151-160
    • Donaldson, L.1    Davis, J.H.2
  • 27
    • 84982014762 scopus 로고
    • Organizational form, ownership structure and corporate performance: A contextual empirical analysis of UK companies
    • Ezzamel M.A., and Watson R. Organizational form, ownership structure and corporate performance: A contextual empirical analysis of UK companies. British Journal of Management 4 3 (1993) 161-176
    • (1993) British Journal of Management , vol.4 , Issue.3 , pp. 161-176
    • Ezzamel, M.A.1    Watson, R.2
  • 28
    • 0000806744 scopus 로고
    • Agency problems and theory of the firm
    • Fama E.F. Agency problems and theory of the firm. Journal of Political Economy 88 2 (1980) 288-307
    • (1980) Journal of Political Economy , vol.88 , Issue.2 , pp. 288-307
    • Fama, E.F.1
  • 29
    • 84993845943 scopus 로고
    • Size and book-to-market factors in earnings and returns
    • Fama E.F., and French K.R. Size and book-to-market factors in earnings and returns. Journal of Finance 50 1 (1995) 131-155
    • (1995) Journal of Finance , vol.50 , Issue.1 , pp. 131-155
    • Fama, E.F.1    French, K.R.2
  • 31
    • 21844525574 scopus 로고
    • The value relevance of German accounting measures: An empirical analysis
    • Harris T.S., Lang M., and Moeller H.P. The value relevance of German accounting measures: An empirical analysis. Journal of Accounting Research 32 2 (1994) 187-209
    • (1994) Journal of Accounting Research , vol.32 , Issue.2 , pp. 187-209
    • Harris, T.S.1    Lang, M.2    Moeller, H.P.3
  • 32
    • 0012583968 scopus 로고    scopus 로고
    • Boards of directors as an endogenously determined institution: A survey of the economic literature
    • Hermalin B., and Weisbach M. Boards of directors as an endogenously determined institution: A survey of the economic literature. Economic Policy Review (2002)
    • (2002) Economic Policy Review
    • Hermalin, B.1    Weisbach, M.2
  • 34
    • 0001387430 scopus 로고
    • The effect of board composition and direct incentives on firm performance
    • Hermalin B.E., and Weibach M.S. The effect of board composition and direct incentives on firm performance. Financial Management 21 (1991) 101-112
    • (1991) Financial Management , vol.21 , pp. 101-112
    • Hermalin, B.E.1    Weibach, M.S.2
  • 35
    • 0000712212 scopus 로고    scopus 로고
    • Understanding the determination of managerial ownership and the link between ownership and performance
    • Himmelberg C.P., Hubbard R.G., and Palia D. Understanding the determination of managerial ownership and the link between ownership and performance. Journal of Financial Economics 53 (1999) 353-384
    • (1999) Journal of Financial Economics , vol.53 , pp. 353-384
    • Himmelberg, C.P.1    Hubbard, R.G.2    Palia, D.3
  • 36
    • 0001658867 scopus 로고
    • Raiders or saviors? The evidence on six controversial investors
    • Holderness C., and Sheehan D.P. Raiders or saviors? The evidence on six controversial investors. Journal of Financial Economics 14 (1985) 555-579
    • (1985) Journal of Financial Economics , vol.14 , pp. 555-579
    • Holderness, C.1    Sheehan, D.P.2
  • 37
    • 42449149865 scopus 로고    scopus 로고
    • Capital and labor market congruence and corporate governance: Effects on corporate innovation and global competitiveness
    • Cohen S., and Boyd G. (Eds), Edward Elgar Publishing, Inc., Northampton, MA
    • Hoskinsson R.E., Yiu D., and Kim H. Capital and labor market congruence and corporate governance: Effects on corporate innovation and global competitiveness. In: Cohen S., and Boyd G. (Eds). Corporate governance and globalization: Long range planning issues (2000), Edward Elgar Publishing, Inc., Northampton, MA
    • (2000) Corporate governance and globalization: Long range planning issues
    • Hoskinsson, R.E.1    Yiu, D.2    Kim, H.3
  • 38
    • 0003860012 scopus 로고
    • Harvard Business School Press, Boston
    • Jacobs M. Short-term America (1991), Harvard Business School Press, Boston
    • (1991) Short-term America
    • Jacobs, M.1
  • 39
    • 0001066475 scopus 로고
    • Agency costs of free cash flow, corporate finance and takeovers
    • Jensen M.C. Agency costs of free cash flow, corporate finance and takeovers. American Economic Review 76 (1986) 323-329
    • (1986) American Economic Review , vol.76 , pp. 323-329
    • Jensen, M.C.1
  • 40
    • 44649197264 scopus 로고
    • Theory of the firm: Managerial behavior, agency costs and capital structure
    • Jensen M.C., and Meckling W.H. Theory of the firm: Managerial behavior, agency costs and capital structure. Journal of Financial Economics 3 (1976) 305-360
    • (1976) Journal of Financial Economics , vol.3 , pp. 305-360
    • Jensen, M.C.1    Meckling, W.H.2
  • 41
    • 21844482282 scopus 로고
    • The effect of accounting diversity: Evidence from the European Union
    • Joos P., and Lang M. The effect of accounting diversity: Evidence from the European Union. Journal of Accounting (1994) 141-168
    • (1994) Journal of Accounting , pp. 141-168
    • Joos, P.1    Lang, M.2
  • 42
    • 0006178745 scopus 로고    scopus 로고
    • Firm performance and board committee structure
    • Klein A. Firm performance and board committee structure. Journal of Law & Economics 41 (1998) 275-303
    • (1998) Journal of Law & Economics , vol.41 , pp. 275-303
    • Klein, A.1
  • 43
    • 0003126404 scopus 로고    scopus 로고
    • Institutional investors and firm innovation: A test of competing hypotheses
    • Kochhar R., and David P. Institutional investors and firm innovation: A test of competing hypotheses. Strategic Management Journal 17 (1996) 73-84
    • (1996) Strategic Management Journal , vol.17 , pp. 73-84
    • Kochhar, R.1    David, P.2
  • 46
    • 0011088442 scopus 로고
    • Additional evidence on equity ownership and corporate value
    • McConnel J., and Servaes H. Additional evidence on equity ownership and corporate value. Journal of Financial Economics 27 (1990) 595
    • (1990) Journal of Financial Economics , vol.27 , pp. 595
    • McConnel, J.1    Servaes, H.2
  • 48
    • 33744542180 scopus 로고    scopus 로고
    • McKinsey, M. (2000). Investor opinion survey, www.icgn.org.
  • 49
    • 0031138809 scopus 로고    scopus 로고
    • The decline of takeovers and disciplinary managerial turnover
    • Mikkelson W.H., and Partch M.M. The decline of takeovers and disciplinary managerial turnover. Journal of Financial Economics 44 (1997) 205-228
    • (1997) Journal of Financial Economics , vol.44 , pp. 205-228
    • Mikkelson, W.H.1    Partch, M.M.2
  • 50
    • 0000175509 scopus 로고
    • An empirical analysis of the interfirm equity investment process
    • Mikkelson W.H., and Ruback R.S. An empirical analysis of the interfirm equity investment process. Journal of Financial Economics 14 (1985) 523-553
    • (1985) Journal of Financial Economics , vol.14 , pp. 523-553
    • Mikkelson, W.H.1    Ruback, R.S.2
  • 51
    • 33645896609 scopus 로고
    • Managerial ownership and market valuation: An empirical analysis
    • Mork R., Schleifer A., and Vishny R. Managerial ownership and market valuation: An empirical analysis. Journal of Financial Economics 20 (1989) 293-316
    • (1989) Journal of Financial Economics , vol.20 , pp. 293-316
    • Mork, R.1    Schleifer, A.2    Vishny, R.3
  • 52
    • 33744504997 scopus 로고    scopus 로고
    • Novaes, W., & Zingales, L. (1999). Capital structure choice under a takeover threat. University of Chicago working paper.
  • 53
    • 85025226022 scopus 로고
    • Board compensation from a strategic contingency perspective
    • Pearce J.A., and Zahra S.A. Board compensation from a strategic contingency perspective. Journal of Management Studies 29 (1992) 411-438
    • (1992) Journal of Management Studies , vol.29 , pp. 411-438
    • Pearce, J.A.1    Zahra, S.A.2
  • 56
    • 33744526825 scopus 로고    scopus 로고
    • Wahal, S. & McConnel, J. J. (1999). Do institutional investors exacerbate managerial myopia? Working paper. Purdue University.
  • 58
    • 0030078208 scopus 로고    scopus 로고
    • Higher market value of companies with small board of directors
    • Yermack D. Higher market value of companies with small board of directors. Journal of Financial Economics 40 (1996) 185-212
    • (1996) Journal of Financial Economics , vol.40 , pp. 185-212
    • Yermack, D.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.