Independent directors’ dissensions and firm value

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dc.contributor.authorChoi, Wonseok
dc.contributor.authorRabarison, Monika K.
dc.contributor.authorWang, Bin
dc.date.accessioned2023-03-23T17:54:43Z
dc.date.available2023-03-23T17:54:43Z
dc.date.issued2021
dc.descriptionArticle originally published in The Quarterly Review of Economics and Finance, 80, 258–271. English. Published online 2021. https://doi.org/10.1016/j.qref.2021.02.003
dc.descriptionPost-print under embargo until May 2023
dc.description.abstractUsing a novel dataset of independent directors’ voting activities on items proposed by managers of Korean firms, we investigate whether independent directors’ dissension in board meetings plays an effective role in enhancing firm value through improved corporate governance. Our results indicate that dissension improves firm value. This finding is robust to different measures of firm value and alternative model specifications including subsample, propensity score matching, and instrumental variable analyses. Overall, we contribute to the understanding of the relation between corporate governance and firm value. Specifically, we provide new evidence that the monitoring by independent directors enhances firm value.en_US
dc.identifier.citationThis is a post-print version of an article that is available at https://doi.org/10.1016/j.qref.2021.02.003. Recommended citation: Choi, W., Rabarison, M. K., & Wang, B. (2021). Independent directors’ dissensions and firm value. The Quarterly Review of Economics and Finance, 80, 258–271. This item has been deposited in accordance with publisher copyright and licensing terms and with the author’s permission.en_US
dc.identifier.urihttps://hdl.handle.net/11274/14718
dc.identifier.urihttps://doi.org/10.1016/j.qref.2021.02.003
dc.language.isoen_USen_US
dc.publisherElsevieren_US
dc.subjectCorporate governanceen_US
dc.subjectIndependenten_US
dc.subjectBoard of directorsen_US
dc.subjectDissensionen_US
dc.subjectFirm valueen_US
dc.titleIndependent directors’ dissensions and firm valueen_US
dc.typePost-Printen_US

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