Bacon, J. and Brown, J. (1974), “Corporate directorship practices: role, selection and legal status of the board”, a joint research report from the Conference Board and the American Society of Corporate Secretaries Inc., New York, NY.
Berle, A.A. and Means, G.C. (1932), The Modern Corporation and Private Property, Macmillan, New York, NY.
Bhagat, S. and Black, B. (2002), “The non‐correlation between board independence and long‐term firm performance”, Journal of Corporation Law, Vol. 27, pp. 232‐73.
Booth, J.R. and Deli, D.N. (1996), “Factors affecting the number of outside directorships held by CEOs”, Journal of Financial Economics, Vol. 40, pp. 81‐104.
Brickley, J.A., Lease, R.C. and Smith, C.W. (1988), “Ownership structure and voting on antitakeover amendments”, Journal of Financial Economics, Vol. 20, pp. 267‐91.
Cadbury, A. (1992), Committee on the Financial Aspects of Corporate Governance, GEE, London.
Combined Code (2003), The Combined Code on Corporate Governance, Financial Reporting Council, London.
Core, J., Holthausen, R. and Larcker, D. (1999), “Corporate governance, chief executive officer compensation and firm performance”, Journal of Financial Economics, Vol. 51, pp. 371‐406.
Davis, G.F. (1993), “Who gets ahead in the market for corporate directors? The political economy of multiple board memberships”, paper presented at the Academy of Management Meeting, Atlanta.
Dayha, J. and McConnell, J.J. (2005), “Outside directors and corporate board decisions”, Journal of Corporate Finance, Vol. 11, pp. 37‐60.
Dayha, J., McConnell, J.J. and Travlos, N.G. (2002), “The Cadbury Committee, corporate performance and top management turnover”, Journal of Finance, Vol. 57, pp. 461‐83.
Fama, E.F. and Jensen, M.C. (1983a), “Separation of ownership and control”, Journal of Law and Economics, Vol. 26, pp. 301‐25.
Fama, E.F. and Jensen, M.C. (1983b), “Agency problems and residual claims”, Journal of Law and Economics, Vol. 26, pp. 327‐49.
Ferris, S.P., Jagannathan, M. and Pritchard, A.C. (2003), “Too busy to mind the business? Monitoring by directors with multiple board appointments”, Journal of Finance, Vol. 58, pp. 1087‐111.
Greene, W.H. (2003), Econometric Analysis, 5th ed., Pearson Education International, Upper Saddle River, NJ.
Hallock, K.F. (1997), “Reciprocally interlocking boards of directors and executive compensation”, Journal of Financial and Quantitative Analysis, Vol. 32, pp. 331‐44.
Hampel, R. (1998), Committee on Corporate Governance, GEE, London.
Higgs, D. (2003), Review of the Role and Effectiveness of Non‐Executive Directors, The Stationery Office, London.
Hillier, D. and McColgan, P. (2006), “An analysis of changes in board structure during corporate governance reforms”, European Financial Management, Vol. 12, pp. 575‐607.
Holderness, C.G. (2003), “A survey of blockholders and corporate control”, FRBNY Economic Policy Review, Vol. 9 No. 1, pp. 51‐64.
Jensen, M.C. and Meckling, W.H. (1976), “Theory of the firm: managerial behaviour, agency costs and ownership structure”, Journal of Financial Economics, Vol. 3, pp. 305‐60.
Kabir, R., Cantrijn, D. and Jeunink, A. (1997), “Takeover defenses, ownership structure and stock returns in The Netherlands”, Strategic Management Journal, Vol. 18, pp. 97‐109.
Kang, E. and Zardkoohi, A. (2005), “Board leadership structure and firm performance”, Corporate Governance: An International Review, Vol. 13, pp. 785‐99.
Lorsch, J. and MacIver, E. (1989), Pawns or Potentates? The Reality of American Corporate Boards, Harvard Business School Press, Boston, MA.
Mace, M. (1986), Directors: Myth and Reality, Harvard Business School Press, Boston, MA.
Morck, R., Schleifer, A. and Vishny, R. (1988), “Management ownership and market valuation”, Journal of Financial Economics, Vol. 20, pp. 293‐315.
O'Sullivan, N. (2005), “Why do executives serve as non‐executives? Pre‐Cadbury evidence from UK non‐financial companies”, Accounting and Business Research, Vol. 35, pp. 161‐76.
Peasnell, K., Pope, P. and Young, S. (1999), “Who are they?”, Accountancy, Vol. 123, p. 114.
Schleifer, A. and Vishny, R. (1986), “Large shareholders and corporate control”, Journal of Political Economy, Vol. 94, pp. 461‐88.
Shivdasani, A. (1993), “Board composition, ownership structure and hostile takeovers”, Journal of Accounting and Economics, Vol. 16, pp. 167‐98.
Short, H. and Keasey, K. (1999), “Managerial ownership and the performance of firms”, Journal of Corporate Finance, Vol. 5, pp. 79‐101.
Smith, C.W. and Watts, R. (1992), “The investment opportunity set and corporate financing, dividend and compensation policies”, Journal of Financial Economics, Vol. 32, pp. 263‐92.
Unseem, M. (1984), The Inner Circle, Oxford University Press, New York, NY.
Ward, M. (1998), “Releasing executive directors for outside directorships: the governance implications”, Corporate Governance: An International Review, Vol. 6, pp. 86‐91.