CORPORATE BOARD SIZE, COMPOSITION AND CORPORATE FAILURES IN RETAILING INDUSTRY[1]
研究了21对失败与未失败零售企业的董事会规模和构成差异，发现未失败企业董事会规模更接近改革者建议的范围，但外部董事比例和CEO兼任职务差异不显著。
ABSTRACT In recent years some activists have advanced proposals to reform corporate boards, notably their structure and process, to assure desirable corporate governance. the empirical question, however, is whether such formal board changes would guarantee good governance. This paper examines this issue by studying the differences in the board size and board composition of 21 pairs of failed and non‐failed firms. the results suggest that the non‐failed retailing firms, as compared to failed ones, tend to have bigger boards within the size range suggested by the activists. the differences in the percent of outsider directors and multiple offices held by C.E.O.s between the failed and non‐failed firms were not significant. Implications of the results for the evaluation of board reforms are discussed.