Board-CEO friendship ties and firm value: Evidence from US firms
Volume: 65, Pages: 101373 - 101373
Published: Oct 1, 2019
Abstract
This study examines the impact of board-CEO friendship ties on firm value and explores potential channels through which changes in firm value may be conveyed, based on a sample of 1696 publicly listed firms in U.S. over the period of 2000–2014. The study reveals that board-CEO friendship ties have a negative and economically meaningful impact on firm value, as measured by Tobin's Q and Total Q. Regarding potential channels of firm value, we show...
Paper Details
Title
Board-CEO friendship ties and firm value: Evidence from US firms
Published Date
Oct 1, 2019
Volume
65
Pages
101373 - 101373
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