Multiple directorships in the Board of Directors: an investors’ perspective

Marco Caiffa, Vincenzo Farina and Lucrezia Fattobene
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Marco Caiffa: Università di Roma Tor Vergata
Lucrezia Fattobene: Università Politecnica delle Marche

BANCARIA, 2017, vol. 6, 20-38

Abstract: This study investigates investors’ perspective on multiple directorships in the same Board of Directors. We assess the impact of mass media communication when directors who hold multiple positions in the BoD are mentioned in the news. Results reveal that news related to Board’s-Chair Ceos are negatively processed by investors, contrary to those related to Ceos who do not have double role, revealing a negative investors’ perception of Ceo duality. No amplifying effects of mass media have been found in the more general case of multiple directorships

JEL-codes: G12 G14 G34 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ban:bancar:v:06:y:2017:m:june:p:20-38

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