We have a great seminar coming to end our year:
OnMay 10th, we will host Professor Xavier Castaner, U. of Lausanne
Same time, same place, (same food): May 10th, 1100-1230, room 4128 at The Business School
TITLE: The impact of international and domestic ownership on board independence
The objective of the present study is to examine what predicts corporate board composition and structure in terms of independence, with a special focus on the role of international and domestic owners in a sample of large French corporations, during a period where the French context witnessed an accelerated capital market liberalization, and where different types of owners took large stakes in the equity capital of firms. Board independence is a condition for effective monitoring over (and accountability of) executive management to corporate shareholders. We propose and test the idea that different types of owners will impact the extent to which a corporate board will be more or less independent, depending on their home country's legal and political economic institutions. We find that, despite some global convergence, owners still differ in their views on board governance depending on their country of origin, in particular on the importance of board monitoring.
Light refreshments will be served.