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The value of director reputation: evidence from outside director appointments

Gogolin, Fabian, Cummins, Mark orcid logoORCID: 0000-0002-3539-8843 and Dowling, Michael orcid logoORCID: 0000-0002-8093-9039 (2018) The value of director reputation: evidence from outside director appointments. Finance Research Letters, 27 . pp. 266-272. ISSN 1544-6123

This study examines the role of director reputation using a sample of outside director appointments. Relative to existing literature, we focus on outside director appointments involving CEO award winners. Exploiting the award-induced change in a director’s reputation, we are able to show that investors react more positively to the appointment of outside directors they perceive as more reputable. We find that this ’reputation premium’ is approximately 2%, and robust across a range of subtests that control for a wide range of possibly confounding influences.
Item Type:Article (Published)
Uncontrolled Keywords:Director reputation; Director appointment; Announcement returns
Subjects:Business > Business ethics
DCU Faculties and Centres:DCU Faculties and Schools > DCU Business School
Official URL:http://dx.doi.org/10.1016/j.frl.2018.03.012
Copyright Information:© 2018 Elsevier
Use License:This item is licensed under a Creative Commons Attribution-NonCommercial-Share Alike 3.0 License. View License
ID Code:24126
Deposited On:15 Jan 2020 09:56 by Thomas Murtagh . Last Modified 21 Feb 2022 13:22

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