Original paper
Is regulatory adoption ceremonial? E vidence from lead director appointments
Abstract
Research Summary: Regulatory bodies often wrestle with the thorny question of whether to mandate a governance practice or allow for organic adoption. While mandates afford rapid diffusion, we theorize that they also result in ceremonial adoptions. Leveraging a quasi‐natural experiment, we compare adoption outcomes for a governance practice—lead director adoption—that was mandated by the NYSE but not the NASDAQ. We find that NYSE firms are more...
Paper Details
Title
Is regulatory adoption ceremonial? E vidence from lead director appointments
Published Date
May 15, 2018
Journal
Volume
39
Issue
8
Pages
2386 - 2413
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Notes
History