The value of director reputation: Evidence from outside director appointments

Fabian Gogolin, Mark Cummins, Michael Dowling

Research output: Contribution to journalArticle

1 Citation (Scopus)
134 Downloads (Pure)

Abstract

This study examines the role of director reputation using a sample of outside director appointments. Relative to existing literature, we focus on outside director appointments involving CEO award winners. Exploiting the award-induced change in a director’s reputation, we are able to show that investors react more positively to the appointment of outside directors they perceive as more reputable. We find that this ’reputation premium’ is approximately 2%, and robust across a range of subtests that control for a wide range of possibly confounding influences.
Original languageEnglish
JournalFinance Research Letters
Early online date20 Mar 2018
DOIs
Publication statusEarly online date - 20 Mar 2018

Fingerprint Dive into the research topics of 'The value of director reputation: Evidence from outside director appointments'. Together they form a unique fingerprint.

  • Cite this