메뉴 건너뛰기




Volumn 14, Issue 1, 2008, Pages 51-72

The determinants of board size and composition: Evidence from the UK

Author keywords

Board composition; Board size; Cadbury; Corporate governance; Hampel; UK; US

Indexed keywords


EID: 40649108567     PISSN: 09291199     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jcorpfin.2008.01.002     Document Type: Article
Times cited : (178)

References (64)
  • 3
    • 0030492391 scopus 로고    scopus 로고
    • Firm performance and mechanisms to control agency problems between managers and shareholders
    • Agrawal A., and Knoeber C.R. Firm performance and mechanisms to control agency problems between managers and shareholders. The Journal of Financial and Quantitative Analysis 31 (1996) 377-397
    • (1996) The Journal of Financial and Quantitative Analysis , vol.31 , pp. 377-397
    • Agrawal, A.1    Knoeber, C.R.2
  • 4
    • 0010364873 scopus 로고    scopus 로고
    • Board composition as the outcome of an internal bargaining process: empirical evidence
    • Arthur N. Board composition as the outcome of an internal bargaining process: empirical evidence. Journal of Corporate Finance 7 (2001) 307-340
    • (2001) Journal of Corporate Finance , vol.7 , pp. 307-340
    • Arthur, N.1
  • 5
    • 0347076594 scopus 로고    scopus 로고
    • The determinants of board structure at the initial public offering
    • Baker M., and Gompers P. The determinants of board structure at the initial public offering. Journal of Law and Economics 46 (2003) 569-598
    • (2003) Journal of Law and Economics , vol.46 , pp. 569-598
    • Baker, M.1    Gompers, P.2
  • 9
    • 84986860260 scopus 로고
    • The determinants of board composition: an agency theory perspective
    • Bathala C., and Rao R.P. The determinants of board composition: an agency theory perspective. Managerial and Decision Economics 16 (1995) 59-69
    • (1995) Managerial and Decision Economics , vol.16 , pp. 59-69
    • Bathala, C.1    Rao, R.P.2
  • 10
    • 33645894110 scopus 로고    scopus 로고
    • The interaction among multiple governance mechanisms in young newly public firms
    • Berry T.K., Fields L.P., and Wilkins M.S. The interaction among multiple governance mechanisms in young newly public firms. Journal of Corporate Finance 12 (2006) 449-466
    • (2006) Journal of Corporate Finance , vol.12 , pp. 449-466
    • Berry, T.K.1    Fields, L.P.2    Wilkins, M.S.3
  • 11
    • 85013788107 scopus 로고    scopus 로고
    • Liability risk for outside directors: a cross-border analysis
    • Black B., Cheffins B., and Klausner M. Liability risk for outside directors: a cross-border analysis. European Financial Management 11 (2005) 153-171
    • (2005) European Financial Management , vol.11 , pp. 153-171
    • Black, B.1    Cheffins, B.2    Klausner, M.3
  • 12
    • 0001310174 scopus 로고
    • Hail Britannia: institutional investor behavior under limited regulation
    • Black B., and Coffee J. Hail Britannia: 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, J.2
  • 13
  • 16
    • 36849044680 scopus 로고    scopus 로고
    • Board size and the variability of corporate performance
    • Cheng S. Board size and the variability of corporate performance. Journal of Financial Economics 87 (2008) 157-176
    • (2008) Journal of Financial Economics , vol.87 , pp. 157-176
    • Cheng, S.1
  • 20
    • 0000546427 scopus 로고
    • The anatomy of corporate control: directors, shareholders and executive remuneration in giant US and UK companies
    • Cosh A., and Hughes A. The anatomy of corporate control: directors, shareholders and executive remuneration in giant US and UK companies. Cambridge Journal of Economics 11 (1987) 285-313
    • (1987) Cambridge Journal of Economics , vol.11 , pp. 285-313
    • Cosh, A.1    Hughes, A.2
  • 21
    • 0031517347 scopus 로고    scopus 로고
    • Executive remuneration, executive dismissal and institutional shareholdings
    • Cosh A., and Hughes A. Executive remuneration, executive dismissal and institutional shareholdings. International Journal of Industrial Organisation 15 (1997) 469-492
    • (1997) International Journal of Industrial Organisation , vol.15 , pp. 469-492
    • Cosh, A.1    Hughes, A.2
  • 23
    • 12344268997 scopus 로고    scopus 로고
    • Outside directors and corporate board decisions
    • Dahya J., and McConnell J.J. Outside directors and corporate board decisions. Journal of Corporate Finance 11 (2005) 37-60
    • (2005) Journal of Corporate Finance , vol.11 , pp. 37-60
    • Dahya, J.1    McConnell, J.J.2
  • 24
    • 34548856220 scopus 로고    scopus 로고
    • Board composition, corporate performance, and the Cadbury Committee recommendations
    • Dahya J., and McConnell J.J. Board composition, corporate performance, and the Cadbury Committee recommendations. Journal of Financial and Quantitative Analysis 42 (2007) 535-564
    • (2007) Journal of Financial and Quantitative Analysis , vol.42 , pp. 535-564
    • Dahya, J.1    McConnell, J.J.2
  • 25
    • 0042674101 scopus 로고    scopus 로고
    • The Cadbury Committee, corporate performance, and top management turnover
    • Dahya J., McConnell J.J., and Travlos N.G. The Cadbury Committee, corporate performance, and top management turnover. Journal of Finance 57 (2002) 461-483
    • (2002) Journal of Finance , vol.57 , pp. 461-483
    • Dahya, J.1    McConnell, J.J.2    Travlos, N.G.3
  • 27
    • 0000498358 scopus 로고    scopus 로고
    • Ownership and board structures in publicly traded corporations
    • Denis D.J., and Sarin A. Ownership and board structures 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
  • 32
    • 0043194037 scopus 로고    scopus 로고
    • Globalization of corporate governance: convergence of form or function
    • Gilson R.J. Globalization of corporate governance: convergence of form or function. American Journal of Comparative Corporate Law 49 (2001) 329-357
    • (2001) American Journal of Comparative Corporate Law , vol.49 , pp. 329-357
    • Gilson, R.J.1
  • 37
    • 0348194856 scopus 로고    scopus 로고
    • Endogenously chosen boards of directors and their monitoring of the CEO
    • Hermalin B.E., and Weisbach M.S. Endogenously chosen boards of directors and their monitoring of the CEO. American Economic Review 88 (1998) 96-118
    • (1998) American Economic Review , vol.88 , pp. 96-118
    • Hermalin, B.E.1    Weisbach, M.S.2
  • 38
    • 0012583968 scopus 로고    scopus 로고
    • Boards of directors as an endogenously determined institution: a survey of the economic evidence
    • Hermalin B.E., and Weisbach M.S. Boards of directors as an endogenously determined institution: a survey of the economic evidence. Economic Policy Review 9 (2003) 7-26
    • (2003) Economic Policy Review , vol.9 , pp. 7-26
    • Hermalin, B.E.1    Weisbach, M.S.2
  • 39
    • 34247850924 scopus 로고    scopus 로고
    • An analysis of changes in board structure during corporate governance reforms
    • Hillier D., and McColgan P. An analysis of changes in board structure during corporate governance reforms. European Financial Management 12 (2006) 575-607
    • (2006) European Financial Management , vol.12 , pp. 575-607
    • Hillier, D.1    McColgan, P.2
  • 41
    • 0542445561 scopus 로고    scopus 로고
    • Influence and intervention by financial institutions in their investee companies
    • Holland J. Influence and intervention by financial institutions in their investee companies. Corporate Governance 6 (1998) 249-264
    • (1998) Corporate Governance , vol.6 , pp. 249-264
    • Holland, J.1
  • 43
    • 84993848601 scopus 로고
    • The modern industrial revolution, exit, and the failure of internal control systems
    • Jensen M.C. The modern industrial revolution, exit, and the failure of internal control systems. Journal of Finance 48 (1993) 831-880
    • (1993) Journal of Finance , vol.48 , pp. 831-880
    • Jensen, M.C.1
  • 44
    • 22144437040 scopus 로고    scopus 로고
    • Can the non-executive director be an effective gatekeeper? The possible development of a legal framework of accountability
    • Kirkbride J., and Letza S. Can the non-executive director be an effective gatekeeper? The possible development of a legal framework of accountability. Corporate Governance 13 (2005) 542-550
    • (2005) Corporate Governance , vol.13 , pp. 542-550
    • Kirkbride, J.1    Letza, S.2
  • 46
    • 33749039960 scopus 로고    scopus 로고
    • The interrelationship between managerial ownership and board structure
    • Lasfer M.A. The interrelationship between managerial ownership and board structure. Journal of Business Finance & Accounting 33 (2006) 1006-1033
    • (2006) Journal of Business Finance & Accounting , vol.33 , pp. 1006-1033
    • Lasfer, M.A.1
  • 48
    • 60749124256 scopus 로고    scopus 로고
    • The effects and unintended consequences of the Sarbanes-Oxley Act, and its era, on the supply and demand for directors
    • Linck J., Netter J., and Yang T. The effects and unintended consequences of the Sarbanes-Oxley Act, and its era, on the supply and demand for directors. University of Georgia Working Paper (2007)
    • (2007) University of Georgia Working Paper
    • Linck, J.1    Netter, J.2    Yang, T.3
  • 50
    • 0010318297 scopus 로고    scopus 로고
    • Determinants of corporate ownership and board structure: evidence from Singapore
    • Mak Y.T., and Li Y. Determinants of corporate ownership and board structure: evidence from Singapore. Journal of Corporate Finance 7 (2001) 235-256
    • (2001) Journal of Corporate Finance , vol.7 , pp. 235-256
    • Mak, Y.T.1    Li, Y.2
  • 51
    • 24144456040 scopus 로고    scopus 로고
    • Corporations, collective action and corporate governance: one size does not fit all
    • Mulherin H. Corporations, collective action and corporate governance: one size does not fit all. Public Choice 124 (2005) 179-204
    • (2005) Public Choice , vol.124 , pp. 179-204
    • Mulherin, H.1
  • 52
    • 0004084052 scopus 로고    scopus 로고
    • Institutional investment in the United Kingdom: a review
    • Myners P. Institutional investment in the United Kingdom: a review. Report to HM Treasury (2001)
    • (2001) Report to HM Treasury
    • Myners, P.1
  • 53
    • 35348890822 scopus 로고    scopus 로고
    • Do corporate governance mechanisms influence CEO compensation? An empirical investigation of UK Companies
    • Ozkan N. Do corporate governance mechanisms influence CEO compensation? An empirical investigation of UK Companies. Journal of Multinational Financial Management 17 (2007) 349-364
    • (2007) Journal of Multinational Financial Management , vol.17 , pp. 349-364
    • Ozkan, N.1
  • 54
    • 85013784975 scopus 로고    scopus 로고
    • Managerial equity ownership and the demand for outside directors
    • Peasnell K.V., Pope P.F., and Young S. Managerial equity ownership and the demand for outside directors. European Financial Management 9 (2003) 231-250
    • (2003) European Financial Management , vol.9 , pp. 231-250
    • Peasnell, K.V.1    Pope, P.F.2    Young, S.3
  • 55
    • 0036840467 scopus 로고    scopus 로고
    • Determinants of board composition in New Zealand: a simultaneous equations approach
    • Prevost A.K., Rao R.P., and Hossain M. Determinants of board composition in New Zealand: a simultaneous equations approach. Journal of Empirical Finance 9 (2002) 373-397
    • (2002) Journal of Empirical Finance , vol.9 , pp. 373-397
    • Prevost, A.K.1    Rao, R.P.2    Hossain, M.3
  • 56
    • 21144440707 scopus 로고    scopus 로고
    • Determinants of board size and composition: a theory of corporate boards
    • Raheja C.G. Determinants of board size and composition: a theory of corporate boards. Journal of Financial and Quantitative Analysis 40 (2005) 283-306
    • (2005) Journal of Financial and Quantitative Analysis , vol.40 , pp. 283-306
    • Raheja, C.G.1
  • 57
    • 22744451767 scopus 로고    scopus 로고
    • The Sarbanes-Oxley Act and the making of quack corporate governance
    • Romano R. The Sarbanes-Oxley Act and the making of quack corporate governance. Yale Law Journal 114 (2005) 1521-1612
    • (2005) Yale Law Journal , vol.114 , pp. 1521-1612
    • Romano, R.1
  • 58
    • 0002249537 scopus 로고    scopus 로고
    • Managerial ownership and the performance of firms: evidence from the UK
    • Short H., and Keasey K. Managerial ownership and the performance of firms: evidence from the UK. Journal of Corporate Finance 5 (1999) 79-101
    • (1999) Journal of Corporate Finance , vol.5 , pp. 79-101
    • Short, H.1    Keasey, K.2
  • 61
    • 0032337613 scopus 로고    scopus 로고
    • The relationship between board structure and firm performance in the UK
    • Vafeas N., and Theodorou E. The relationship between board structure and firm performance in the UK. British Accounting Review 30 (1998) 383-407
    • (1998) British Accounting Review , vol.30 , pp. 383-407
    • Vafeas, N.1    Theodorou, E.2
  • 62
    • 0030078208 scopus 로고    scopus 로고
    • Higher market valuation of companies with a small board of directors
    • Yermack D. Higher market valuation of companies with a small board of directors. Journal of Financial Economics 40 (1996) 185-221
    • (1996) Journal of Financial Economics , vol.40 , pp. 185-221
    • Yermack, D.1
  • 63
    • 33845462643 scopus 로고    scopus 로고
    • The increasing use of non-executive directors: its impact on UK board structure and governance arrangements
    • Young S. The increasing use of non-executive directors: its impact on UK board structure and governance arrangements. Journal of Business Finance & Accounting 27 (2000) 1311-1342
    • (2000) Journal of Business Finance & Accounting , vol.27 , pp. 1311-1342
    • Young, S.1
  • 64
    • 84989092209 scopus 로고
    • The costs and benefits of managerial incentives and monitoring in large US corporations: when is more not better?
    • Zajac E.J., and Westphal J.D. The costs and benefits of managerial incentives and monitoring in large US corporations: when is more not better?. Strategic Management Journal 15 (1994) 121-142
    • (1994) Strategic Management Journal , vol.15 , pp. 121-142
    • Zajac, E.J.1    Westphal, J.D.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.