Directors' and officers' liability insurance, independent...

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Artículos Artículos Directors' and officers' liability insurance, independent directors behavior, and governance effect - Jia, Ning

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Título: Directors' and officers' liability insurance, independent directors behavior, and governance effect / Ning Jia, Xuesong Tang

Autor: Jia, Ning Icono con lupa

Notas: Sumario: We examine the effect of directors' and officers' liability insurance (D&O insurance) on the behavior of independent directors and the effectiveness of their governance role. Using a unique data set, we find a negative relation between D&O insurance and personal board meeting attendance by independent directors and a positive relation between D&O insurance and meeting attendance by authorized representatives. Content analysis of independent director opinion reports indicates that D&O insurance encourages independent directors to behave less responsibly. Insured independent directors are also more likely to be busy. Collectively, D&O insurance reduces the effectiveness of independent directors in corporate governance

Autores secundarios: Tang, Xuesong Icono con lupa

Otras clasificaciones: 333

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