On Long-Tenured Independent Directors

Published: Jan 1, 2017
Abstract
Recent surveys show that 24% of independent directors in Russel 3,000 firms have continuously served on their boards for fifteen years or more. Based on a sample of S&P 1500 firms over the period 1998-2012, we document strong positive effects on financial performance for firms with one, very long-tenured independent director. We show that long-tenured independent directors are highly skilled individuals, and over time they accumulate information...
Paper Details
Title
On Long-Tenured Independent Directors
Published Date
Jan 1, 2017
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