Corporate Board Characteristics, Managerial Entrenchment and Diversification Strategy: Evidence from Tunisian Context
نویسندگان
چکیده
منابع مشابه
Board Classification and Managerial Entrenchment: Evidence from the Market for Corporate Control
Board classification is a common corporate governance provision that staggers the annual election of directors. Critics of board classification contend that the governance arrangement moderates an incumbent manager’s exposure to the market for corporate control, motivating empirical claims that board classification is causally associated with greater principal-agent conflict and a reduction in ...
متن کاملThe Effects of Corporate Characteristics on Managerial Entrenchment
The present study aims to assess the relationship between some corporate factors and managerial entrenchment in companies listed on the Tehran Stock Exchange during 2011-2017. Panel data regression models were used to test the hypotheses. The obtained results indicated that four corporate factors, namely real earnings management, predictable earnings management, institutional ownership, and boa...
متن کاملBoard Diversity and Corporate Social Responsibility: Evidence from Iranian Firms
According to agency theory, board of directors plays an important monitoring role in reducing information asymmetry and increasing the transparency of financial statements and social responsibility. This research is concerned with examining board diversity and social responsibility of the firms listed on the Tehran Stock Exchange during the years 2011-2015. To do so, a sample of 98 firms was se...
متن کاملManagerial Optimism, Overconfidence and Board Characteristics: Toward a New Role of Corporate Governance
The aim of this paper is to discuss the effect of corporate governance mechanisms on controlling CEOs’ emotions and some behavioral biases. Departing from a sample of 40 public traded Tunisian firms, we test the impact of the board of directors on managing CEO’s irrationalities. Our results highlight strong evidence on the role of the board characteristics, especially the board independence, a ...
متن کاملManagerial Timing and Corporate Liquidity: Evidence from Actual Share Repurchases
We investigate the timing of open market share repurchases and the resultant impact on firm liquidity. Using Hong Kong’s unique disclosure environment, we identify the exact implementation dates for over 5,000 equity buybacks. We find that managers exhibit substantial timing ability. Consistent with the information-asymmetry hypothesis, bid-ask spreads widen and depths narrow during repurchase ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Business and Management
سال: 2015
ISSN: 1833-8119,1833-3850
DOI: 10.5539/ijbm.v10n7p184