Who Monitors the Monitor? Stigmatizing Events and Board Member Careers

Abstract : This study addresses whether board members pay a price when things go wrong and under what conditions the market may penalize stigmatized directors. We use a sample of 354 directors, which includes 177 directors who have been personally involved as a board member in stigmatizing events such as corporate bankruptcies, major litigation or regulatory infractions, major accounting restatements and other corporate scandals, approving particularly egregious CEO compensation packages, or other similar circumstances. Inconsistent with agency and stigma theory predictions, our findings show that these problem directors may even be rewarded by the market.
Type de document :
Communication dans un congrès
11th Annual Conference of the European Academy of Management (EURAM), Jun 2011, Tallinn, Estonia
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https://hal-rbs.archives-ouvertes.fr/hal-00718582
Contributeur : Sandrine Palmer <>
Soumis le : mardi 17 juillet 2012 - 15:55:46
Dernière modification le : mardi 17 juillet 2012 - 15:55:46

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  • HAL Id : hal-00718582, version 1

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Burak Koyuncu, Luis R. Gomez-Mejia, Marianna Makri. Who Monitors the Monitor? Stigmatizing Events and Board Member Careers. 11th Annual Conference of the European Academy of Management (EURAM), Jun 2011, Tallinn, Estonia. 〈hal-00718582〉

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