Abstract

http://ssrn.com/abstract=316519
 
 

Citations



 


 



Too Busy to Mind the Business? Monitoring by Directors with Multiple Board Appointments


Adam C. Pritchard


University of Michigan Law School

Stephen P. Ferris


University of Missouri at Columbia - Department of Finance

Murali Jagannathan


State University of New York (SUNY) at Binghamton


Journal of Finance, Vol. 58, p. 1087, 2003

Abstract:     
We examine the number of external appointments held by corporate directors. Directors who serve larger firms and sit on larger boards are more likely to attract additional directorships. Consistent with Fama and Jensen (1983), we find that firm performance has a positive effect on the number of appointments held by a director. We find no evidence that multiple directors shirk their responsibilities to serve on board committees. We also do not find that multiple directors are associated with a greater likelihood of securities fraud litigation. We conclude that the evidence does not support calls for limits on directorships held by an individual.

JEL Classification: G34, K22

Accepted Paper Series


Not Available For Download

Date posted: June 18, 2002  

Suggested Citation

Pritchard, Adam C. and Ferris, Stephen P. and Jagannathan, Murali, Too Busy to Mind the Business? Monitoring by Directors with Multiple Board Appointments. Journal of Finance, Vol. 58, p. 1087, 2003. Available at SSRN: http://ssrn.com/abstract=316519

Contact Information

Adam C. Pritchard (Contact Author)
University of Michigan Law School ( email )
625 South State Street
Ann Arbor, MI 48109-1215
United States
734-647-4048 (Phone)
734-647-7349 (Fax)

Stephen P. Ferris
University of Missouri at Columbia - Department of Finance ( email )
214 Middlebush Hall
Columbia, MO 65211
United States
573-882-6272 (Phone)
573-884-6296 (Fax)
Murali Jagannathan
State University of New York (SUNY) at Binghamton ( email )
P.O. Box 6015
Binghamton, NY 13902-6015
United States
607-777-4639 (Phone)
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