NASIG Executive Board 1985/86

Board Involvement, Director Expertise and Executive Incentives

Boards of directors have become more involved in monitoring and advising top management. We investigate how board involvement affects executive incentives in a project investment setting. To increase the probability of project success, the CEO engages in a sequence of tasks: first acquiring information to evaluate a potential project, then reporting his assessment of the project to the board, a...

Governance in the Executive Suite and Board Independence

The overall independence of a firm’s governance system depends not only on the independence of its board of directors but also on CEO influence over the other top executives. We find that board independence and independence from CEO influence in the executive suite are inversely related. Difference-in-difference estimates using a regulatory shock reveal that strengthening board independence wea...

Board interlocking network and the design of executive compensation packages

Directors often sit on multiple company boards; two boards are said to be interlocked when they have at least one common director. A board interlocking network is a set of companies together with all the interlocks that exist among them. We propose that such an interlocking network is an important inter-corporate setting, which has bearing on how company boards make important corporate decision...

Board Structure and Executive Pay: Evidence from the UK

We examine the impact of board structure on executive pay for 1,880 UK public firms over 1983-2002, using panel data analysis. Firstly, the proportion of non-executive directors tends to decrease the rate of increase in executive pay whilst board size tends to increase it. Secondly, the proportion of non-executives strengthens the relation between the rate of increase in executive pay and chang...

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