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Board Interlocking in Brazil: Directors' Participation in Multiple Companies and Its Effect on Firm Value and Profitability
16 references·9 citing·41 second hop
Board Interlocking in Brazil: Directors' Participation in Multiple Companies and Its Effect on Firm Value and Profitability (2012)Board Interlocking in Brazil: Directors' …Are Busy Boards Effective Monitors? (2012)Are Busy Boards Effective Mon…Are Busy Boards Effective Monitors? (2006)Are Busy Boards Effective Mon…When Do Interlocks Matter?: Alternate Sources of Information and Interlock Influence (1998)When Do Interlocks Matter?: A…Reciprocally Interlocking Boards of Directors and Executive Compensation (1997)Reciprocally Interlocking Boa…A Simple Approximation of Tobin's q (1994)A Simple Approximation of Tob…Late Adoption of the Multidivisional Form by Large U.S. Corporations: Institutional, Political, and Economic Accounts (1993)Late Adoption of the Multidiv…Agents without Principles? The Spread of the Poison Pill through the Intercorporate Network (1991)Agents without Principles? Th…Corporate linkages and organizational environment: A test of the resource dependence model (1990)Corporate linkages and organi…Management ownership and market valuation (1988)Management ownership and mark…The Strength of Weak Ties (1973)The Strength of Weak TiesSize and Composition of Corporate Boards of Directors: The Organization and its Environment (1972)Size and Composition of Corpo…Structure and Process in Modern Societies. (1960)Structure and Process in Mode…Structure and Process in Modern Societies (1960)Structure and Process in Mode…Liquidity Preference as Behavior Towards Risk (1958)Liquidity Preference as Behav…Leadership in administration (1957)Leadership in administrationLeadership in Administration (1956)Leadership in AdministrationBoard social capital in an emerging market: Do directors’ connections affect corporate risk-taking? (2023)Board social capital in an em…Busy female directors: an exploratory analysis of the impact of quotas and interest groups (2021)Busy female directors: an exp…Who appropriates centrality rents? The role of institutions in regulating social networks in the global Islamic finance industry (2018)Who appropriates centrality r…The influence of board diversity in human capital and social capital in crisis (2017)The influence of board divers…Interlocking Directorates, Access to Credit, and Business Performance in Chile During Early Industrialization (2017)Interlocking Directorates, Ac…Does the capital of social capital matter? Relational resources of the board and the performance of Brazilian companies (2017)Does the capital of social ca…Do the Board of Directors Composition and the Board Interlocking Influence on Performance? (2016)Do the Board of Directors Com…Business group characteristics and firm operating performance: evidence from Chile (2014)Business group characteristic…Legitimidade, governança corporativa e desempenho: análise das empresas da BM&F Bovespa (2013)Legitimidade, governança corp…Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Problems and the Theory of the Firm (1980)Separation of Ownership and Control (1983)A Survey of Corporate Governance (1997)Law and Finance (1998)Corporate Ownership Around the World (1999)The Psychology of Interpersonal Relations. (1958)Social Capital, Intellectual Capital, and the Organizational Advantage (1998)Social Capital: Prospects for a New Concept (2002)The Benefits of Facebook “Friends:” Social Capital and College Students’ Use of Online Social Network Sites (2007)The Interpersonal Theory of Psychiatry (2013)Diffusion of Innovations 1 (2019)Economic Action and Social Structure: The Problem of Embeddedness (1985)DOES FAMILIARITY BREED TRUST? THE IMPLICATIONS OF REPEATED TIES FOR CONTRACTUAL CHOICE IN ALLIANCES. (1995)Alliances and networks (1998)Collaboration Networks, Structural Holes, and Innovation: A Longitudinal Study (2000)The iron cage revisited institutional isomorphism and collective rationality in organizational fields (2004)Organizational Legitimacy: Social Values and Organizational Behavior (1975)The External Control of Organizations. (1978)STRATEGIC RESPONSES TO INSTITUTIONAL PROCESSES (1991)Exchange and Power in Social Life (2017)The Pricing of Options and Corporate Liabilities (1973)The Cross-Section of Expected Stock Returns (1992)Corporate Governance and Firm Performance (2007)The Gender and Ethnic Diversity of US Boards and Board Committees and Firm Financial Performance (2010)The Role of Boards of Directors in Corporate Governance: A Conceptual Framework and Survey (2010)Corporate Governance, Board Diversity, and Firm Value (2003)How do family ownership, control and management affect firm value? (2005)Boards: Does one size fit all☆ (2007)EFFICIENT CAPITAL MARKETS: A REVIEW OF THEORY AND EMPIRICAL WORK* (1970)Risk, Return, and Equilibrium: Empirical Tests (1973)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)Democracy and Foreign Education (2009)The construct of institutional distance through the lens of different institutional perspectives: Review, analysis, and recommendations (2019)The legitimacy and legitimation of international organizations: introduction and framework (2019)The Institutionalization of the U.S. House of Representatives (1968)Strategic management and economics (1991)Pathologies of Accountability: ICANN and the Challenge of “Multiple Accountabilities Disorder” (2005)The New Institutionalism: Organizational Factors in Political Life (1983)What Do Interlocks Do? An Analysis, Critique, and Assessment of Research on Interlocking Directorates (1996)Identity and the Economics of Organizations (2005)
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References

  • 1973The Strength of Weak Ties40,446 cited
  • 1988Management ownership and market valuation6,910 cited
  • 1958Liquidity Preference as Behavior Towards Risk3,916 cited
  • 1994A Simple Approximation of Tobin's q2,458 cited
  • 1957Leadership in administration2,296 cited
  • 1972Size and Composition of Corporate Boards of Directors: The Organization and its Environment1,994 cited
  • 1956Leadership in Administration1,854 cited
  • 2006Are Busy Boards Effective Monitors?1,675 cited
  • 1991Agents without Principles? The Spread of the Poison Pill through the Intercorporate Network1,380 cited
  • 1960Structure and Process in Modern Societies1,075 cited
  • 2012Are Busy Boards Effective Monitors?1,051 cited
  • 1990Corporate linkages and organizational environment: A test of the resource dependence model860 cited
  • 1998When Do Interlocks Matter?: Alternate Sources of Information and Interlock Influence751 cited
  • 1960Structure and Process in Modern Societies.693 cited
  • 1993Late Adoption of the Multidivisional Form by Large U.S. Corporations: Institutional, Political, and Economic Accounts656 cited

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1997
Reciprocally Interlocking Boards of Directors and Executive Compensation
558 cited

Cited by

  • 2017Interlocking Directorates, Access to Credit, and Business Performance in Chile During Early Industrialization55 cited
  • 2013Legitimidade, governança corporativa e desempenho: análise das empresas da BM&F Bovespa30 cited
  • 2016Do the Board of Directors Composition and the Board Interlocking Influence on Performance?29 cited
  • 2017The influence of board diversity in human capital and social capital in crisis29 cited
  • 2018Who appropriates centrality rents? The role of institutions in regulating social networks in the global Islamic finance industry28 cited
  • 2017Does the capital of social capital matter? Relational resources of the board and the performance of Brazilian companies23 cited
  • 2023Board social capital in an emerging market: Do directors’ connections affect corporate risk-taking?22 cited
  • 2021Busy female directors: an exploratory analysis of the impact of quotas and interest groups18 cited
  • 2014Business group characteristics and firm operating performance: evidence from Chile17 cited