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The organizational dynamics of corporate governance structures: An investigation of heterogeneity in boards' participation in corporate governance.

机译:公司治理结构的组织动力学:对董事会参与公司治理异质性的调查。

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摘要

This study carries forward corporate governance research that explores relationships between independent variables such as the percentage of independent directors, the percentage of blockholdings by affiliated parties, and the board chair also being the CEO (duality)' and various dependent variables. This organizational research project takes these same three frequently used corporate governance structure independent variables and investigates their relationship to a new measure of the participation of the board of directors in the governance of the corporation. The new dependent variable metric is comprised of the annual number of meetings of the board of directors plus the number of meetings of the various committees of the board of directors. The target population was the Standard & Poors MidCap 400 companies, and the data was collected for the 2003 reporting year. The data collected was a census rather than a sample. The results showed that there is a moderate positive correlation between the percent of independent directors; a moderate negative correlation between the percentage of affiliated blockholdings, and a weak negative correlation between the existence of duality and the total number of meetings of the board of directors and its committees. A multiple correlation analysis indicated a significant moderate multiple correlation between the three variables taken together and the total number of meetings of the board of directors and its committees. These results indicate that these three independent variables are related to the board process issue of heterogeneity of the participation of boards of directors in the governance of the S&P MidCap 400 companies in the reporting year. The conclusions of this study are that the role taken by the board, as evidenced by its participation in the governance of the corporation, is related to the three governance structures studied. The implications of these results are that companies with heavily outsider boards and low percentages of affiliated blockholdings have more active boards. Boards of directors at companies with the opposite circumstances may be in a low power position and are less active in the governance of the corporation.
机译:这项研究进行了公司治理研究,探讨了独立变量之间的关系,例如独立董事的比例,关联方的持股比例以及董事会主席兼首席执行官(双重性)和各种因变量之间的关系。该组织研究项目采用了这三个经常使用的公司治理结构独立变量,并研究了它们与董事会参与公司治理的新措施之间的关系。新的因变量度量标准由董事会的年度会议次数加上董事会各委员会的会议次数组成。目标人群是标准普尔MidCap 400公司,该数据收集了2003年报告年度。收集的数据是人口普查而不是样本。结果表明,独立董事的百分比之间存在中等正相关。关联大宗股份的百分比之间呈中等程度的负相关,而二元性的存在与董事会及其委员会会议总数之间的较弱的负相关。多重相关分析表明,三个变量加在一起与董事会及其委员会会议总数之间存在显着的中等多重相关性。这些结果表明,这三个独立变量与报告年度中董事会在标普400中型股公司的治理中参与董事会的异质性有关。该研究的结论是,董事会参与公司治理所证明的作用与所研究的三种治理结构有关。这些结果的含义是,外部董事会人数众多且关联大宗股份比例较低的公司拥有更活跃的董事会。处于相反情况的公司的董事会可能处于低权力位置,而对公司治理的积极性较低。

著录项

  • 作者

    McCready, Al Douglas.;

  • 作者单位

    The George Washington University.;

  • 授予单位 The George Washington University.;
  • 学科 Business Administration Management.; Psychology Industrial.; Sociology Organizational.
  • 学位 Ed.D.
  • 年度 2008
  • 页码 228 p.
  • 总页数 228
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 贸易经济;工业心理学;
  • 关键词

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