Boards, ownership structure, and involuntary delisting from the New York Stock Exchange

Journal of Accounting and Public Policy

Volumn 26, Issue 2, 2007, Pages 249-262

  Charitou, Andreas ^a   Louca, Christodoulos ^b   Vafeas, Nikos ^a  

^a UNIVERSITY OF CYPRUS   (Cyprus)

^b DURHAM UNIVERSITY   (United Kingdom)

Author keywords

Board of directors; Delisting; NYSE

Indexed keywords

EID: 33947174783     PISSN: 02784254     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jaccpubpol.2007.02.006     Document Type: Article

References (17)

1. Beasley M. An empirical analysis of the relation between the board of director composition and financial statement fraud. Accounting Review 71 (1996) 433-465
2. Core J., Holthausen R., and Larcker D. Corporate governance, chief executive compensation, and firm performance. Journal of Financial Economics 51 (1999) 371-406
3. Core J., Guay W., and Rusticus T. Does weak governance cause weak stock returns? An examination of firm operating performance and investors' expectations. Journal of Finance 61 (2006) 655-687
4. Eisenberg T., Sundgren S., and Wells M.T. Larger board size and decreasing firm value in small firms. Journal of Financial Economics 48 (1998) 35-54
5. Goktan, M.S., Kieschnick, R., Moussawi, R., 2006. Corporate governance and corporate survival, Working paper, University of Texas at Dallas.
6. Hermalin B., and Weisbach M. Board of directors as an endogenously determined institution: A survey of the economic literature. Economic Policy Review 9 (2003) 7-26
7. Himmelberg C., Hubbard R., and Palia D. Understanding the determinants of managerial ownership and the link between ownership and performance. Journal of Financial Economics 53 (1999) 353-384
8. Klein A. Audit committee, board of director characteristics, and earnings management. Journal of Accounting and Economics 33 (2002) 375-400
9. Macey, J., O'Hara, M., Pompillo, D., 2004. Down and out in the stock market: The law and finance of the delisting process. Cornell University Working Paper.
10. Morck R., Shleifer A., and Vishny R. Management ownership and market valuation; an empirical analysis. Journal of Financial Economics 20 (1988) 293-315
11. Panchapagesan, V., Werner, M., 2004. From pink slips to pink sheets: Market quality around delisting from NASDAQ, Working Paper, Olin School, Washington University, St. Louis.
12. Perry T., and Shivdasani A. Do boards affect performance? Evidence from corporate restructuring. Journal of Business 78 (2005) 1403-1431
13. Raheja C. Determinants of board size and composition: A theory of corporate boards. Journal of Financial and Quantitative Analysis 40 2 (2005) 283-306
14. Shumway T. The delisting bias in CRSP data. Journal of Finance 52 (1997) 327-340
15. Shumway T., and Warther V. The delisting bias in CRSP's Nasdaq data and its implications for the size effect. Journal of Finance 54 (1999) 2351-2379
16. Vafeas N. Board meeting frequency and firm performance. Journal of Financial Economics 53 (1999) 113-142
17. Yermack D. Higher market valuation of companies with a small board of directors. Journal of Financial Economics 40 (1996) 185-213