One Man Two Hats - What's All the Commotion!

38 Pages Posted: 23 Nov 2005

See all articles by Jay Dahya

Jay Dahya

Zicklin School of Business, Baruch College - The City University of New York

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Date Written: August 2005

Abstract

We examine performance in publicly listed U.K. companies over a period that encompasses issuance of the Cadbury Committee's Code of Best Practice calling for the abolition of the combined CEO and COB position. We find companies splitting the combined CEO and COB position to conform to the Code's requirement did not exhibit any absolute or relative improvement in performance to various peer-group benchmarks. We do not necessarily scoff at mandated board structures, but the evidence appears to be that such legislature coercing the abandonment of the combined CEO and COB position appears to be wide of the mark.

Keywords: Board, Composition, UK, Cadbury

JEL Classification: G30, G38

Suggested Citation

Dahya, Jay, One Man Two Hats - What's All the Commotion! (August 2005). Available at SSRN: https://ssrn.com/abstract=853006 or http://dx.doi.org/10.2139/ssrn.853006

Jay Dahya (Contact Author)

Zicklin School of Business, Baruch College - The City University of New York ( email )

55 Lexington Ave., Box B13-260
New York, NY 10010
United States

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