The inner workings of the board: evidence from emerging markets

Ralph De Hass, Daniel Ferreira and Tom Kirchmaier ()

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: We survey non-executive directors in emerging markets to obtain detailed information about the inner workings of corporate boards across a variety of institutional settings. We document substantial variation in the structure and conduct of boards as well as in directors’ perceptions of the local legal environment. Our analysis indicates that directors who feel adequately empowered by local legislation are less likely to vote against board proposals. They also form boards that play a stronger role in the company’s strategic decision-making. The evidence suggests that a supportive legal environment allows directors to focus more on their advisory role rather than on their monitoring role.

Keywords: boards of directors; corporate governments; emerging markets (search for similar items in EconPapers)
JEL-codes: G30 G38 K22 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2020-11-18
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Published in Emerging Markets Review, 18, November, 2020. ISSN: 1566-0141

Downloads: (external link)
http://eprints.lse.ac.uk/100898/ Open access version. (application/pdf)

Related works:
Journal Article: The inner workings of the board: Evidence from emerging markets (2021)
Working Paper: The Inner Workings of the Board: Evidence from Emerging Markets (2017)
Working Paper: The Inner Working of the Board: Evidence from the Emerging Markets (2017)
Working Paper: The Inner Working of the Board: Evidence from the Emerging Markets (2017)
Working Paper: The Inner Working of the Board: Evidence from the Emerging Markets (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:100898

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