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Title: Board characteristics : what really matters to investors after Enron?
Authors: Wong, Yan Yang.
Keywords: DRNTU::Business::Finance::Corporate governance
Issue Date: 2007
Abstract: The Enron scandal has a big impact on corporate governance and investor confidence. This study identifies the changes of nine board characteristics in the Fortune 500 firms before and after the scandal, and attempts to assess the changes in investors' attitude towards the board characteristics after the scandal, by regressing the board characteristics on firm value. The findings show that the sample firms seemed to move more quickly towards greater board independence, stopped reducing board size, started holding more board meetings and rushed to appoint lead directors after the scandal. Founder CEOs also appear to refrain from stepping down while Fortune 500 directors seem to increase in demand and thus gain additional directorships. On the other hand, the scandal appears to have little impact on director tenure, founder directors and firms appear to be moving away from a CEO duality structure even before the scandal.
Description: 118 p.
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Theses

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