Board structure, director expertise, and advisory role of outside directors

Sheng Syan Chen, Yan Shing Chen, Jun Koo Kang, Shu Cing Peng

研究成果: 雜誌貢獻期刊論文同行評審

4 引文 斯高帕斯(Scopus)

摘要

We investigate how a shock to corporate demand for experienced directors (i.e., U.S. Congress’ grant of Permanent Normal Trade Relations status to China in 2000) affects U.S. firms’ board structure and board advisory role. We find that firms appoint more outside directors with China-related experience after the grant. Firms with such directors realize higher returns around announcements of investments involving Chinese firms and better post-deal operating performance, particularly when these directors reside in the U.S. The appointment of directors with China experience is also greeted more positively by the stock market and they gain more board seats after the grant.

原文???core.languages.en_GB???
頁(從 - 到)483-503
頁數21
期刊Journal of Financial Economics
138
發行號2
DOIs
出版狀態已出版 - 11月 2020

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