| Autor: |
Oxelheim, Lars, Randøy, Trond |
| Jazyk: |
angličtina |
| Rok vydání: |
2001 |
| Předmět: |
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| Popis: |
This study examines the effect of foreign (Anglo-American) board membership on corporate performance measured in terms of firm value (Tobins Q). On a basis of firms with headquarters in Norway or Sweden the study indicates a significantly higher value for firms that have outsider Anglo-American board member(s), after a variety of firm-specific and corporate governance related factors have been controlled for. We argue that this superior performance reflects the fact that these companies have successfully broken away from a partly segmented domestic capital market by importing an Anglo-American corporate governance system. Such an import signals a willingness on the part of the firm to expose itself to improved corporate governance and enhances its reputation in the financial market. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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