The Role of Outside Directors in Bank Aquisitions

Vijaya Subrahmanyam, Nanda Rangan and Stuart Rosenstein

Financial Management, 1997, vol. 26, issue 3

Abstract: Banking law appears to limit the available pool of qualified directors. This study finds - in contrast to nonfinancial firms - a negative relation between abnormal returns and the proportion of independent outside directors on the board of directors of bidding banks.

Date: 1997
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