author

Bernard Black

Northwestern University

"We report consistent evidence across approaches for a casual connection between board structure (outside directors and audit committees) and firm market value." Large Korean firms subject to a new mandate requiring 50% of board members being outside directors saw share prices rise by an average of 15% relative to mid-size firms unaffected by the mandate.
The effect of board structure on firm value: A multiple identification strategies approach using Korean data
Codetermination
Loading...