Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/94928 
Erscheinungsjahr: 
2001
Schriftenreihe/Nr.: 
IUI Working Paper No. 567
Verlag: 
The Research Institute of Industrial Economics (IUI), Stockholm
Zusammenfassung: 
This study examines the effect of foreign (Anglo-American) board membership on corporate performance measured in terms of firm value (Tobin’s Q). On a basis of firms with headquarters in Norway or Sweden the study indicates a significantly higher value for firms that have outsider Anglo-American board member(s), after a variety of firm-specific and corporate governance related factors have been controlled for. We argue that this superior performance reflects the fact that these companies have successfully broken away from a partly segmented domestic capital market by “importing” an Anglo-American corporate governance system. Such an “import” signals a willingness on the part of the firm to expose itself to improved corporate governance and enhances its reputation in the financial market.
Schlagwörter: 
Foreign Board Membership
Corporate Governance
Board Monitoring
Cross-Listing
JEL: 
F36
G30
G32
Dokumentart: 
Working Paper

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