Board independence, firm performance and ownership concentration: Evidence from Chile

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dc.contributor.authorLefort, Fernando
dc.contributor.authorUrzua, Francisco
dc.date.accessioned2024-01-10T12:37:50Z
dc.date.available2024-01-10T12:37:50Z
dc.date.issued2008
dc.description.abstractWhat determines the composition of companies' boards in the context of high ownership concentration? Are independent directors important as an internal governance mechanism in companies with high ownership concentration? Do markets favor companies whose controlling shareholders use voting rights to elect professional directors?
dc.description.abstractUsing a four-year, 160-company panel data, and controlling for endogeneity, this paper addresses these three related questions, finding that an increase in the proportion of outside directors affects company value. The paper also finds that companies that present more exacerbated agency conflicts tend to incorporate professional directors to the boards, in an effort to improve corporate governance and ameliorate the agency problem. (C) 2007 Elsevier Inc. All rights reserved.
dc.fechaingreso.objetodigital27-03-2024
dc.format.extent8 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1016/j.jbusres.2007.06.036
dc.identifier.eissn1873-7978
dc.identifier.issn0148-2963
dc.identifier.urihttps://doi.org/10.1016/j.jbusres.2007.06.036
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/76935
dc.identifier.wosidWOS:000255814000005
dc.information.autorucEscuela de Administración;Lefort F;S/I;80348
dc.information.autorucInstituto de Economía;Urzúa F;S/I;120063
dc.issue.numero6
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final622
dc.pagina.inicio615
dc.publisherELSEVIER SCIENCE INC
dc.revistaJOURNAL OF BUSINESS RESEARCH
dc.rightsacceso restringido
dc.subjectboards
dc.subjectcorporate governance
dc.subjectownership structure
dc.subjectemerging economics
dc.subjectChile
dc.subjectCORPORATE GOVERNANCE
dc.subjectDIRECTORS
dc.titleBoard independence, firm performance and ownership concentration: Evidence from Chile
dc.typeartículo
dc.volumen61
sipa.codpersvinculados80348
sipa.codpersvinculados120063
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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