Does independent directors’ monitoring affect reputation? Evidence from the stock and labor markets
Tài liệu tham khảo
Adams, 2009, Women in the boardroom and their impact on governance and performance, J. Financ. Econ., 94, 291, 10.1016/j.jfineco.2008.10.007
Agrawal, A., Chen, M.A., 2011. Boardroom brawls: an empirical analysis of disputes involving directors. Available at SSRN: http://ssrn.com/abstract=1362143 or https://doi.org/10.2139/ssrn.1362143.
Alam, 2014, Does the location of directors matter? Information acquisition and board decisions, J. Financ. Quantitative Anal., 10.1017/S002210901400012X
Bai, 2004, Corporate governance and market valuation in China, J. Compar. Econ., 32, 599, 10.1016/j.jce.2004.07.002
Brickley, 1994, Outside directors and the adoption of poison pills, J. Financ. Econ., 35, 371, 10.1016/0304-405X(94)90038-8
Bushee, 1998, The influence of institutional investors on myopic R&D investment behavior, Account. Rev., 73, 305
Byrd, 1992, Do outside directors monitor managers? Evidence from tender offer bids, J. Financ. Econ., 32, 195, 10.1016/0304-405X(92)90018-S
Chung, 2002, Institutional monitoring and opportunistic earnings management, J. Corpor. Finance, 8, 29, 10.1016/S0929-1199(01)00039-6
Conyon, 2011, Executive compensation and corporate governance in China, J. Corpor. Finance, 17, 1158, 10.1016/j.jcorpfin.2011.04.006
Cornett, 2007, The impact of institutional ownership on corporate operating performance, J. Bank. Finance, 31, 1771, 10.1016/j.jbankfin.2006.08.006
CSRC, 1997. Guidelines for the articles of association of listed companies (in Chinese).
CSRC, 2001. Guiding opinion on establishing an independent director system in listed companies (in Chinese).
CSRC, 2005. Circular of issuing the provisions on strengthening the protection of the rights and interests of the general public shareholders (in Chinese).
Davidson, 1998, Golden parachutes, board and committee composition, and shareholder wealth, Financ. Rev., 33, 17, 10.1111/j.1540-6288.1998.tb01394.x
DeFond, 2005, Does the market value financial expertise on audit committees of boards of directors?, J. Account. Res., 43, 153, 10.1111/j.1475-679x.2005.00166.x
Dey, 2008, Corporate governance and agency conflicts, J. Account. Res., 46, 1143
Doyle, 2007, Determinants of weaknesses in internal control over financial reporting, J. Account. Econ., 44, 193, 10.1016/j.jacceco.2006.10.003
Duchin, 2010, When are independent directors effective?, J. Financ. Econ., 96, 195, 10.1016/j.jfineco.2009.12.004
Fahlenbrach, R., Low, A., Stulz, R.M., 2010. The dark side of independent directors: do they quit when they are most needed? Available at SSRN: http://www.ssrn.com/abstract=1585192.
Faleye, 2011, The costs of intense board monitoring, J. Financ. Econ., 101, 160, 10.1016/j.jfineco.2011.02.010
Fama, 1992, The cross-section of expected stock returns, J. Finance, 47, 427, 10.1111/j.1540-6261.1992.tb04398.x
Fama, 1983, Separation of ownership and control, J. Law Econ., 26, 301, 10.1086/467037
Fich, 2007, Financial fraud, director reputation, and shareholder wealth, J. Financ. Econ., 86, 306, 10.1016/j.jfineco.2006.05.012
Francis, 2013, Professors in the boardroom: is there an added value for academic directors?, Financ. Manage.
Gilson, 1990, Bankruptcy, boards, banks, and blockholders, J. Financ. Econ., 27, 355, 10.1016/0304-405X(90)90060-D
Gul, 2011, Does board gender diversity improve the informativeness of stock prices?, J. Account. Econ., 51, 314, 10.1016/j.jacceco.2011.01.005
Harford, 2003, Takeover bids and target director’s incentives: the impact of a bid on director’s wealth and board seats, J. Financ. Econ., 69, 51, 10.1016/S0304-405X(03)00108-9
Hermalin, 2003, Boards of directors as an endogenously determined institution: a survey of the economic literature, Econ. Policy Rev., 9, 7
Jiang, 2008, Should earnings thresholds be used as delisting criteria in stock market?, J. Account. Public Policy, 27, 409, 10.1016/j.jaccpubpol.2008.07.002
Jiang, 2016, Reputation concerns of independent directors: evidence from individual director voting, Rev. Financ. Stud., 29, 655
Larcker, 2007, Corporate governance, accounting outcomes, and organizational performance, Account. Rev., 82, 963, 10.2308/accr.2007.82.4.963
Li, B., 2004. Effective monitoring saves independent directors from legal liability. Shanghai Securities News, July 1.
Lin, K., Piotroski, J.D., Yang, Y.G., Tan, J., 2012. Voice or exit? Independent director decisions in an emerging economy. Available at SSRN: http://ssrn.com/abstract=2166876 or https://doi.org/10.2139/ssrn.2166876.
Masulis, 2014, Independent director incentives: where do talented directors spend their limited time and energy?, J. Financ. Econ., 111, 406, 10.1016/j.jfineco.2013.10.011
Richardson, 2005, Discussion of consequences of financial reporting failure for independent directors: evidence from accounting restatements and audit committee members, J. Account. Res., 43, 335, 10.1111/j.1475-679x.2005.00173.x
Shivdasani, 1999, CEO involvement in the selection of new board members: an empirical analysis, J. Finance LIV, 5, 1829, 10.1111/0022-1082.00168
Srinidhi, 2011, Female directors and earnings quality, Contemp. Account. Res., 28, 1610, 10.1111/j.1911-3846.2011.01071.x
Srinivasan, 2005, Consequences of financial reporting failure for independent directors: evidence from accounting restatements and audit committee members, J. Account. Res., 43, 291, 10.1111/j.1475-679x.2005.00172.x
Standing Committee of the National People’s Congress, 2005. Company Law of the People’s Republic of China.
Tang, 2013, The effectiveness of the mandatory disclosure of independent directors’ opinions: empirical evidence from China, J. Account. Public Policy, 32, 89, 10.1016/j.jaccpubpol.2013.02.006
Vafeas, 1999, Board meeting frequency and firm performance, J. Financ. Econ., 53, 113, 10.1016/S0304-405X(99)00018-5
Weisbach, 1988, Independent directors and CEO turnover, J. Financ. Econ., 20, 431, 10.1016/0304-405X(88)90053-0
Yao, 2010, Taking away the voting powers from controlling shareholders: evidence from the Chinese securities market, J. Int. Financ. Manage. Account., 21, 187, 10.1111/j.1467-646X.2010.01040.x
Yermack, 2004, Remuneration, retention, and reputation incentives for independent directors, J. Finance, 59, 2281, 10.1111/j.1540-6261.2004.00699.x
Yuan, 2008, Mutual funds’ ownership and firm performance: evidence from China, J. Bank. Finance, 32, 1552, 10.1016/j.jbankfin.2007.08.001
