Essays on director industry experience
Hamburg, Univ., FB BWL, Diss. 2015
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| Format: | UnknownFormat |
| Sprache: | eng |
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2014
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Tag hinzufügen | Zusammenfassung: | Hamburg, Univ., FB BWL, Diss. 2015 This dissertation, comprised of three interrelated papers, aims at shedding light on the consequences of having industry-experienced outside directors on the board. The first paper (co-authored with David Oesch and Markus Schmid) links the industry experience of an appointed outside director to the stock market reaction observed around the announcement of the appointment. The second paper extends the scope of the analysis of the first paper along a number of dimensions. First, both time and firm sample under investigation are broadened. Second, the focus of the analysis shifts from the individual director level to the overall board level. The paper therefore relates the industry experience of the entire board to firm value as well as to operating policies chosen by firms. The third paper links board industry experience to executive compensation, thereby evaluating whether boards of directors with more industry experience help to reduce agency costs between managers and shareholders by means of managerial incentives. |
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| Beschreibung: | Kumulative Diss |
| Beschreibung: | 214 Bl. |