Australian CEO Outside Directorships

28 Pages Posted: 15 Jan 2015

See all articles by Richard A. Heaney

Richard A. Heaney

University of Western Australia

Lary Li

RMIT University - School of Economics, Finance and Marketing; Financial Research Network (FIRN)

Monica Tan

RMIT University; Financial Research Network (FIRN)

Date Written: January 15, 2015

Abstract

In a study of the outside directorships held by CEOs in large Australian companies we find that CEO outside directorships are a function of CEO power and the level of outside directorships held by other members of the board. They are also increasing in CEO relative tenure, CEO duality and board size. Whether the outside directorship is for a private or a public company is also found to have an impact on the results. The outside directorship counts are manually collected from the annual reports of the top 100 listed Australian companies, sampled every three years over the period from 1990 through to 2008.

Keywords: outside directorships, busy CEO

JEL Classification: G34, G32

Suggested Citation

Heaney, Richard A. and Li, Larry and Tan, Monica, Australian CEO Outside Directorships (January 15, 2015). 2015 Financial Markets & Corporate Governance Conference, Available at SSRN: https://ssrn.com/abstract=2550057 or http://dx.doi.org/10.2139/ssrn.2550057

Richard A. Heaney (Contact Author)

University of Western Australia ( email )

Crawley
Perth, Western Australia 6009
Australia
0414700799 (Phone)

Larry Li

RMIT University - School of Economics, Finance and Marketing ( email )

Business
Level 12, 239 Bourke Street
Melbourne, Victoria 3000
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

Monica Tan

RMIT University ( email )

35 Herlihys Rd
Templestowe Lower, 3107
Australia
403388233 (Phone)

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

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