Military directors, governance and firm behavior

Chen Cai, Iftekhar Hasan, Yinjie Shen and Shuai Wang

Advances in accounting, 2021, vol. 55, issue C

Abstract: We build a large dataset of board of directors with military experience and document a substantial and persistent presence of independent military directors serving on corporate boards. We find that firms with independent military directors are associated with better monitoring outcomes, including less excessive CEO compensation, greater forced CEO turnover–performance sensitivity, and less earnings management.

Keywords: Military; Board of directors; Corporate governance (search for similar items in EconPapers)
JEL-codes: G32 G34 M12 M14 M41 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:advacc:v:55:y:2021:i:c:s0882611021000511

DOI: 10.1016/j.adiac.2021.100563

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